DLA Piper advises BBVA on USD500 million global vendor financing programme

DLA Piper advised Banco Bilbao Vizcaya Argentaria S.A. (BBVA) on a USD500 million global vendor financing programme for Envision Energy, a leading global provider of renewable energy and green technology solutions.

The financing programme will support Envision Energy’s international business expansion across Europe, Asia and Latin America, enabling the deployment of wind power, battery storage and integrated clean energy projects in multiple markets.

Designed as a multi‑project, multi‑jurisdictional financing, the programme features a highly flexible and bespoke structure, incorporating multiple financing instruments and operating across several currencies. The structure allows financing opportunities to be identified at early stages of project development.

The matter was led by Naomi Hong, Of Counsel, Finance, based in Hong Kong.

Naomi commented: “This deal reflects the increasing sophistication of financing structures supporting the global energy transition and demonstrates how flexible, multi‑jurisdictional solutions can accelerate the deployment of renewable energy technologies at scale. Coordinating a programme of this complexity underscores our strength in delivering complex, innovative financing structures in the renewable energy space.”

The transaction further reinforces DLA Piper’s position as a leading adviser in complex project and structured finance, particularly in the renewable energy sector, and its ability to support clients on large‑scale, cross‑border financings linked to the global energy transition with recent transactions including:

•  Advising asset manager and investment advisor, Amber Infrastructure and global investment group, La Caisse, on their commitment to invest GBP2 billion in Sizewell C, the UK's 3.2GW nuclear power station
• Supporting Société Générale S.A. on the first of its kind 50MW/100MWh Finnish BESS project
• Assisting Prime Capital on its acquisition of a 135MW BESS project in Germany
• Providing counsel on a 4.5GW Battery Energy Storage System pipeline in Germany
• Supporting a club of lenders on financing a 250MW and 1GWh BESS project in Italy