en.Wedoany.com Reported - Exolum and Moeve have secured €105 million in financing for the Muelle Sur project at the Port of Huelva, Spain. This terminal serves as a key logistics infrastructure for Moeve's new 2G biofuel plant.
Through their joint venture, Terminal Puerto Tartessos, the two companies have signed a financing agreement with BBVA and Kutxabank. Located at the Port of Huelva, the Muelle Sur terminal is over halfway through construction and will serve as the main hub for importing raw materials and exporting products for Moeve's new 2G biofuel plant, which is part of the largest 2G biofuel complex in Southern Europe.
The project plans to build a new 551-meter berth to upgrade the logistics capacity of the Parque Energético La Rábida and Exolum facilities. The companies stated that the new infrastructure will optimize ship loading and unloading operations, more efficiently handle the import of sustainable raw materials and the dispatch of new fuels, while enhancing the safety and operational flexibility of the complex, thereby contributing to Europe's energy autonomy.
The transaction adopts a project finance model with a total financing amount of €105 million. This financing will optimize the capital structure and provide long-term strategic investment for the logistics development of the outer port industrial area in Huelva. The financing is led by BBVA, acting as sole bookrunner, sole underwriter, mandated lead arranger, and hedging coordinator, with Kutxabank serving as mandated lead arranger. Legal matters are handled by Garrigues as legal advisor to Terminal Puerto Tartessos, and Gómez-Acebo & Pombo as legal advisor to the financial institutions.
Carmen de Pablo, Chief Financial Officer and Director of Strategy, Sustainability, and M&A at Moeve, stated that Muelle Sur is a key element in driving the energy transition and enhancing European autonomy. The projects supported by this financing agreement will improve efficiency and provide the necessary logistics capacity to advance green molecule projects.
David Folgado, Chief Financial Officer of Exolum, noted that logistics is a key factor in achieving the energy transition. Muelle Sur will provide more modern and flexible infrastructure capable of managing new energy carriers, improving operational efficiency and safety, and helping to develop a sustainable and more competitive industry. He also added that this financing demonstrates the interest of the project finance market in key infrastructure supporting the energy transition, creating value for the development of such assets.
