Watson Farley & Williams, WFW provided legal counsel to ICO, Sabadell, and HSBC on a €500 million green loan backed by the Spanish Export Credit Agency (Cesce). This loan, intended for Iberdrola, is designated for funding renewable energy projects in the US, Australia, and Italy. It marks the first disbursement from the EU’s ICO-Verde Next Generation Funds aimed at advancing renewable energy development.

Iberdrola, a global energy leader and one of the largest electricity companies by market capitalization, is renowned for its leadership in wind power and commitment to sustainability and climate change mitigation.

Cesce, Spain’s national Export Credit Agency, manages credit and investment insurance for Spanish businesses, covering political, commercial, and extraordinary risks associated with international operations.

The WFW Madrid Finance team, led by Finance Partner Rodrigo Berasategui, with support from Partner Juan Vicente Barquilla and Associate Antón Ramil, advised the banks on this transaction.

Rodrigo Berasategui stated, “It was a pleasure to work on a deal that promotes global sustainability and reinforces Spain’s dedication to the renewable energy sector. I appreciate the entire team’s efforts in closing this deal in record time.