Photo credit: Exolum.
Moeve and Exolum, through their joint venture Terminal Puerto Tartessos, have secured 105 million euros in project financing from BBVA and Kutxabank to support construction of the Muelle Sur logistics and maritime transport hub at the Port of Huelva.
The project is already more than halfway complete and is expected to serve as a key gateway for feedstocks and products used by Moeve's new second-generation biofuels plant. The facility will be part of what the companies describe as the largest second-generation biofuels complex in southern Europe.
The financing is structured as a project finance transaction designed to optimize the project's capital structure while supporting the long-term development of a strategic logistics asset within the Port of Huelva's Outer Harbour industrial complex.
BBVA led the transaction as sole bookrunner, sole underwriter, mandated lead arranger and hedge coordinator. Kutxabank served as lead arranger. Garrigues acted as legal adviser to Terminal Puerto Tartessos, while Gómez-Acebo & Pombo advised the financial institutions.
The Muelle Sur project includes construction of a new 511-meter berth that will modernize logistics operations serving the La Rábida Energy Park and Exolum's facilities. The infrastructure is intended to improve vessel loading and unloading operations while increasing the capacity to handle sustainable feedstocks and distribute renewable fuels.
The companies said the project will improve operational flexibility, strengthen safety and expand logistics capacity needed to support renewable fuel production and other energy transition initiatives.
Once completed, the terminal is expected to play a central role in supplying feedstocks for second-generation biofuel production while enhancing the movement of renewable fuels through the Port of Huelva. The companies also said the investment will contribute to strengthening European energy autonomy through expanded infrastructure for low carbon energy products.
Source: Exolum, "Huelva, a strategic logistics and maritime transport hub supporting Europe’s energy transition"