Moeve and Exolum, through their joint venture Terminal Puerto Tartessos, have signed a financing agreement with BBVA and Kutxabank to support the development of the South Dock, a strategic infrastructure project located at the Port of Huelva.
The facility, which is now more than halfway through construction, will serve as one of the main gateways for raw materials and the primary outbound route for products from Moeve’s new second-generation (2G) biofuels plant, part of what will become the largest 2G biofuels complex in Southern Europe.
The €105 million transaction has been structured under a project finance model. The financing will optimize the project’s capital structure and support the long-term investment in a strategic infrastructure development for the logistics hub at the Port of Huelva’s Outer Harbour.
The financing was structured by BBVA, acting as Sole Bookrunner, Sole Underwriter, Mandated Lead Arranger (MLA) and Hedge Coordinator, alongside Kutxabank, which acted as Lead Arranger. The transaction was supported by the law firms Garrigues, serving as legal counsel to Terminal Puerto Tartessos, and Gómez-Acebo & Pombo, acting as legal counsel to the financing banks.
The South Dock project involves the construction of a new 511-metre-long berthing dock that will modernize the logistics capabilities of the La Rábida Energy Park and Exolum’s facilities. The new infrastructure will optimize vessel loading and unloading operations, enabling more efficient handling of inbound sustainable feedstocks and outbound low-carbon fuels.
In addition, it will enhance operational flexibility and strengthen the site’s safety, while contributing to Europe’s energy security and strategic autonomy.
READ THE FULL STORY HERE
