Watson Farley & Williams (WFW) has advised Banco Santander on the project financing of the 50MW Estrallada wind park, in Cerro Largo, Uruguay, operational since 2015.
The deal closed on 14 December 2018. Energy company Atlantica Yield purchased the project, simultaneously to the project financing, from Enel Green Power. Atlantic Yield now has a Uruguayan wind portfolio of 150MW. The project includes a Power Purchase Agreement (PPA) entered into by the special purpose vehicle (SPV) company owning the wind park and Uruguayan state-owned power company UTE (Administración Nacional de Usinas y Transmisiones Eléctricas) as off-taker.