DLA Piper supports BBVA's USD500 million financing

DLA Piper has played a significant role in facilitating Banco Bilbao Vizcaya Argentaria S.A. (BBVA) in establishing a USD500 million global vendor financing programme aimed at Envision Energy, a frontrunner in renewable energy and green technology solutions. This financing initiative is strategically designed to bolster Envision Energy’s international expansion across Europe, Asia, and Latin America, facilitating the deployment of wind power, battery storage, and integrated clean energy projects across various markets.

The structure of this financing programme is highly flexible and tailored, designed to accommodate multiple projects and jurisdictions while utilising an array of financing instruments and various currencies. This bespoke arrangement allows for financing opportunities to be identified at the early stages of project development, enhancing the operational efficacy of the involved entities.

Naomi Hong, Of Counsel in the Finance division based in Hong Kong, led the matter and shared her insights, stating “This deal reflects the increasing sophistication of financing structures supporting the global energy transition and demonstrates how flexible, multi jurisdictional solutions can accelerate the deployment of renewable energy technologies at scale.” She emphasised that “Coordinating a programme of this complexity underscores our strength in delivering complex, innovative financing structures in the renewable energy space.”

The success of this transaction further solidifies DLA Piper’s esteemed reputation as a top adviser in complex project and structured finance, particularly within the renewable energy sector. The firm has demonstrated its capacity to assist clients with large-scale, cross-border financings that are integral to the global energy transition. Recent notable transactions include advising asset manager Amber Infrastructure and global investment group La Caisse on their investment commitment of GBP2 billion in Sizewell C, the UK’s 3.2GW nuclear power station, supporting Société Générale S.A. on Finland's first 50MW/100MWh Battery Energy Storage System project, and assisting Prime Capital with the acquisition of a 135MW Battery Energy Storage System project in Germany.

Moreover, DLA Piper has provided counsel on a substantial 4.5GW Battery Energy Storage System pipeline in Germany, as well as supporting a consortium of lenders in financing a significant 250MW and 1GWh BESS project in Italy. This diverse portfolio further illustrates DLA Piper's commitment to fostering innovation and excellence in the growing renewable energy sector.