en.Wedoany.com Reported - Natixis has provided a €145 million project finance refinancing to Greenalia Biomass Power Curtis-Teixeiro S.L.U., a subsidiary of Spain's Greenalia S.A., for a biomass plant in Curtis-Teixeiro, A Coruña province. Watson Farley & Williams (WFW) acted as legal advisor to Natixis on this transaction.

The plant, which has been in commercial operation since 2020, is one of the largest biomass power generation facilities in Southern Europe. In 2025, the plant generated 375 GWh of electricity, with an equivalent full-load operating hours of approximately 7,500 hours. WFW noted that this indicator reflects strong operational performance and high availability of the plant. The plant's fuel is entirely sourced from FSC- and PEFC-certified forest biomass, primarily utilizing forestry residues that would otherwise be discarded. According to the project company, this practice helps promote sustainable forest management and reduce fire risk.

The refinancing adopts a fully underwritten project finance structure. It is estimated that this arrangement will save Greenalia over €6.5 million in financial costs annually, while also helping to optimize the company's overall capital structure.

Rodrigo Berasategui, partner in WFW's Madrid energy team, led the advisory, with senior associate Beltrán Silva and associate María Heredero also participating. Berasategui stated that this transaction highlights the continued value of biomass assets in Spain's energy transition and demonstrates that the project finance market for operational renewable energy assets remains active. Regulatory advice was provided by partner Lidia Fernández and senior associate Paula Pérez, while senior associate Javier Gabiña provided tax advice.