Platina Partners has restructured the debt on its 9.4MW Tagoro solar photovoltaic plant in Spain.
The project is located in Arico on the Canary Islands and is financed by lenders led by Banco Santander.
The company said the restructuring ensures the project’s long-term viability under the current Spanish renewables regulatory framework and strengthens Platina’s Spanish operations.
Platina Partners managing partner Alexandre Labouret said: “Platina is delighted to have closed this debt restructuring with the project lenders.
“Due to a number of changes in the laws affecting the PV sector in Spain, a restructuring of the debt on these assets was required to avoid a potential default.”
The Madrid office of international law firm Watson Farley & Williams advised Platina, while the lenders were advised by Uría Menéndez.
The lenders also received financial advice from EY, insurance advice from Marsh and technical support from Altermia.
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