Moeve and Exolum land $119.5M to develop marine transport hub for 2G biofuels
In Spain, Moeve and Exolum, through their joint venture Terminal Puerto Tartessos, have secured financing from BBVA and Kutxabank to support the development of Muelle Sur, a strategic logistics and maritime transport hub located at the Port of Huelva. The facility – already more than halfway through construction – will become one of the main gateways for feedstocks and products associated with Moeve’s new second-generation (2G) biofuels plant, which will form part of the largest 2G biofuel complex in southern Europe.
The financing package totals 105 million euros and has been structured as a project finance transaction. The financing will optimize the project’s capital structure and support the long-term development of a strategic logistics asset within the Port of Huelva’s Outer Harbour industrial complex. BBVA led the structuring of the transaction, acting as Sole Bookrunner, Sole Underwriter, Mandated Lead Arranger (MLA), and Hedge Coordinator, while Kutxabank acted as Lead Arranger. Garrigues acted as Terminal Puerto de Tartessos legal advisor, while Gómez-Acebo & Pombo acted as legal advisor of the financial institutions.
Category: Fuels
