CS’Associados has advised Hyperion Renewables on the closing of a €210 million financing package, to be invested in the construction, operation and refinancing of a portfolio of renewable energy projects in Portugal. With a total capacity of nearly 300 megawatts (MW), this group of assets — known as Project Theia — includes two hybrid projects (combining solar, wind and battery storage) as well as a set of several small-scale generation units.
The Iberian company has a development pipeline of more than 3.4 gigawatts (GW) across Portugal, Spain and Romania, with an operational installed capacity of more than 100 MW. Project Theia includes the Cavaleira plant (in Estremoz), which combines photovoltaic, wind and battery production at a single grid connection point, as well as the Vale de Moura park (Évora), featuring solar generation and storage.
Of the €210 million financing, a tranche of nearly €175 million was provided by a group of banks including Santander Totta, Banco Português de Fomento, BCP and Sumitomo Mitsui Banking Corporation. Another €35 million was provided by Eiffel Investment Group. Of the total amount, €116 million corresponds to debt refinancing linked to projects already in operation or under construction.
The CS’Associados team was led by partner Duarte Brito de Goes (pictured) and included lawyers João Pedro Matias, Miguel Paquete, Francisco Afra Rosa, José Bettencourt, Benedita Costa e Sá and Cristina Chernova.