DLA Piper supports the whole business securitisation of Commodities Securitization's Battery Energy Storage System project

DLA Piper has advised Commodities Securitization S.A. as sponsor on the EUR150 million whole business securitisation of its battery energy storage system (BESS) project. Owned and developed by Commodities Securitization S.A., the KiWih TDA 1 securitisation is the first of its kind in Spain and it foresees the expansion to other EU jurisdictions and will be supported by East China Electric Power Design Institute CO. LTD, as the EPC contractor.

The DLA Piper team was led by Andres Lorrio, capital markets partner in Madrid. He was supported by members of the capital markets, corporate and energy teams in Madrid including legal director Marta Clemente, and associates Diego Sánchez and Marcos Gil.

Commenting on the significance of this transaction, Andres Lorrio said: “The financing of this landmark project through the whole business securitisation technic represents a major evolution of our experience in stadium-infraestructure financing through securitisation and will back a private placement of energy tokens in the Abu Dhabi Global Market by KiWih DLT Foundation. The project will help the financial stability of Energy Storage projects while channel strategic investments in clean energy through innovative solutions."

Ignacio Ozcariz, founder of Commodities Securitization S.A. said: “We are delighted to be breaking ground on Commodities Securitization’s project in Spain, which we see as a strategically important market for BESS in Europe. We are especially pleased to use market leading technology to accelerate the transition to clean energy in Spain – contributing to reserve markets and featuring grid-forming capabilities that enhance overall network stability.”