Moeve & Exolum secure €105m project finance for Muelle Sur berth at Port of Huelva
- €105 million project finance provided by BBVA and Kutxabank.
- New berth is 511 metres long and construction is over 50% complete.
- Project will serve Moeve’s 2G biofuels plant and support handling of sustainable feedstocks and renewable fuels.
- BBVA acted as sole bookrunner/underwriter and MLA; Garrigues and Gómez‑Acebo & Pombo advised the JV and banks respectively.
Transaction
Moeve and Exolum, via their joint venture Terminal Puerto Tartessos, have closed a €105 million project finance package with BBVA and Kutxabank to fund the Muelle Sur terminal at the Port of Huelva. BBVA led structuring as Sole Bookrunner, Sole Underwriter, Mandated Lead Arranger and Hedge Coordinator, with Kutxabank as Lead Arranger.
Project status and scope
The Muelle Sur project is already more than 50% complete and includes a new 511‑metre berth in the Port of Huelva’s Outer Harbour. The infrastructure will modernize logistics for the La Rábida Energy Park and Exolum’s nearby facilities, optimizing vessel loading and unloading operations.
Purpose and benefits
The terminal is intended to facilitate logistics for sustainable feedstocks and renewable fuels and to serve Moeve’s new second‑generation (2G) biofuels plant within the largest 2G biofuel complex in southern Europe. Projected benefits include increased operational flexibility, improved efficiency and reinforced site safety, contributing to enhanced European energy autonomy.
Advisors and stakeholders
Garrigues acted as legal advisor to Terminal Puerto Tartessos, while Gómez‑Acebo & Pombo advised the financial institutions. Moeve and Exolum executives highlighted the terminal’s role as a critical logistics asset enabling the energy transition and supporting new energy vectors.
Source: Exolum