Moeve, Exolum secure financing for Muelle Sur, a strategic hub supporting the energy transition
- The project, which is already more than 50% complete, includes a berth at the Port of Huelva’s Outer Harbour that will modernize the logistics infrastructure of Moeve's La Rábida Energy Park and Exolum’s nearby facilities
- BBVA and Kutxabank will provide 105 million euros under a project finance structure, supporting this key project to advance the energy transition and strengthen Europe’s strategic autonomy
- The new terminal being developed by Moeve and Exolum will facilitate the logistics of sustainable feedstocks and renewable fuels, while enhancing operational efficiency, increasing logistics flexibility, and reinforcing the site’s safety
Moeve and Exolum, through their joint venture Terminal Puerto Tartessos, have secured financing from BBVA and Kutxabank to support the development of Muelle Sur, a strategic logistics and maritime transport hub located at the Port of Huelva. The facility – already more than halfway through construction – will become one of the main gateways for feedstocks and products associated with Moeve's new second-generation (2G) biofuels plant, which will form part of the largest 2G biofuel complex in southern Europe.
The financing package totals 105 million euros and has been structured as a project finance transaction. The financing will optimize the project’s capital structure and support the long-term development of a strategic logistics asset within the Port of Huelva’s Outer Harbour industrial complex. BBVA led the structuring of the transaction, acting as Sole Bookrunner, Sole Underwriter, Mandated Lead Arranger (MLA), and Hedge Coordinator, while Kutxabank acted as Lead Arranger. Garrigues acted as Terminal Puerto de Tartessos legal advisor, while Gómez-Acebo & Pombo acted as legal advisor of the financial institutions.
The Muelle Sur project includes the construction of a new 511-meter-long berth that will modernize the logistical capabilities of the La Rábida Energy Park and Exolum's facilities. The new infrastructure will optimize vessel loading and unloading operations and enable a more efficient handling of sustainable feedstocks and the distribution of new renewable fuels. It will also increase operational flexibility and reinforce the safety of the complex, contributing to enhanced European energy autonomy.
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