"Clean Power Spain Fin Holdings Signs Landmark Corporate Power Purchase Agreements with Obramat and Leroy Merlin"

"Squire Patton Boggs has facilitated the regulatory and financing aspects of long-term Corporate Power Purchase Agreements (PPAs) between Clean Power Spain Fin Holdings and major retailers Obramat and Leroy Merlin. This initiative is part of a €100 million project financed by NORD/LB, aimed at enhancing renewable energy capacity in Spain. Over the next decade, the agreements will allow the retailers to source approximately 30% of their electricity from solar energy, promoting sustainability and decarbonization. Obramat will secure 10.89 GWh annually, while Leroy Merlin will contract 45.6 GWh per year. The project is part of the L&G NTR Clean Power (Europe) III portfolio."

Squire Patton Boggs has advised Clean Power Spain Fin Holdings on the regulatory and financing aspects of long-term Corporate Power Purchase Agreements (PPAs) with major retail companies Obramat and Leroy Merlin. The transaction involves a €100 million project financing arranged by the sponsor with German bank NORD/LB, aimed at developing new renewable energy capacity in Spain. Over the next decade, these agreements will allow Obramat and Leroy Merlin to source approximately 30% of their annual electricity consumption in Spain from solar-generated clean energy, thereby enhancing their commitment to sustainability and decarbonisation. The renewable electricity generated will be injected into the Spanish national grid and certified through Guarantees of Origin (GoOs) issued by the CNMC (National Commission on Markets and Competition). Obramat will secure an annual volume of 10.89 GWh, while Leroy Merlin will contract 45.6 GWh per year, marking a significant milestone for corporate renewable energy procurement in Spain. The legal team from Squire Patton Boggs was led by Antonio Bañón, who specializes in Energy and Public Law, and José Luis Iriarte, who focuses on Banking & Finance, both based in Spain.

"Clean Power Spain Fin Holdings Signs Landmark Corporate Power Purchase Agreements with Obramat and Leroy Merlin"

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