Natixis has granted a €145 million project finance refinancing to Greenalia Biomass Power Curtis-Teixeiro S.L.U., a subsidiary of Spanish renewable energy company Greenalia S.A., for its biomass power plant in Curtis-Teixeiro, A Coruña. Watson Farley & Williams (WFW) advised Natixis on the transaction.
Operational since 2020, the Curtis-Teixeiro plant is one of the largest biomass facilities in Southern Europe. It produced 375 GWh in 2025 and achieved around 7,500 net exportable hours, which WFW said reflects strong operational performance and availability. The plant runs on certified forest biomass (FSC and PEFC), using forestry residues that would otherwise go unused, which its backers say supports sustainable forest management and fire prevention.
The refinancing, structured as a fully subscribed project finance facility, is expected to generate annual savings of more than €6.5 million for Greenalia and supports the optimisation of its capital structure.
Rodrigo Berasategui, finance partner at WFW's Madrid Energy team, who led the advisory work alongside senior associate Beltrán Silva and associate María Heredero, said the deal underlines the continued relevance of biomass assets within Spain's energy transition and points to a robust project finance market for operational renewable assets. Regulatory advice was provided by partner Lidia Fernández and senior associate Paula Pérez, with senior associate Javier Gabiña advising on tax.
Natixis provides €145m refinancing for Greenalia biomass plant in Spain
