Vanessa Cuellas
Partner
Madrid

Vanessa Cuellas
Partner
Madrid
Contact Details
Vanessa specialises in project finance, advising sponsors, borrowers and funders in relation to the development, acquisition, financing and refinancing of energy and infrastructure assets. Her experience covers both international and domestic work across the energy and infrastructure landscape (greenfield and brownfield) from power (including renewables) to roads, rail and ports among others.
She has also wide experience in leverage, corporate and structured finance.
Vanessa is recognised as a leading market practitioner in the main legal directories such as Chambers & Partners and Legal 500.
Other noteworthy experience includes advising:
- Eolia in connection with the acquisition of a wind and PV portfolio from Sinia Renovables (owned by Banco Sabadell) and the refinancing of the debt of the same. (Project Albatros)
- Bruc Energy on the equity financing of the acquisition of several photovoltaic power plants.
- Commerzbank in relation with the project finance for the construction, development, commissioning and operation by WPD of a 300 MWp wind farm in Valladolid.
- Ib vogt, a Berlin-based solar developer, in the construction and operation of a 180MWp PV project in Badajoz (including financing and project contracts and in particular an ISDA based PPA with Shell).
- European Investment Bank (EIB) in connection with the financing of a PV project in Spain (La Cabrera), including negotiation of a PPA with Amazon.
- Infracapital on the financing to Endesa Soluciones in order to optimize its capital structure as well as funding the construction, operation or acquisition of additional projects.
- The commercial banks on the refinancing of the existing debt of Tranche 2 of the Barcelona Metro Line. (Project Miró)
- Abanca, EDC and Schorders on the debt refinancing of Omers (formerly Borealis) in relation with the acquisition of their stake in Exolum (formerly CLH).
- The Lenders in the financing to Macquarie in connection with the acquisition of 25% of the their stake in Exolum (formerly CLH).
- The Lenders in connection with the financing granted by GIP for the acquisition of 20% Naturgy (before Gas Natural).
Qualifications
Professional
Academic
Business Degree, Fundación Universitaria San Pablo CEU, 2004
Postgraduate, Business Law, Fundación Universitaria San Pablo CEU, 2003
Law Degree, Fundación Universitaria San Pablo CEU, 2002
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Experience highlights
EUR443.29m: The lenders on the refinancing through project bond financing of the debt of 13 solar PV plants portfolio with a total installed capacity of 74,8MWp located in Spain, owned by Eolia Renovables de Inversiones.
EUR533.82m: The lenders on the refinancing of a portfolio of 20 onshore wind farms with a total installed capacity of 544 MW.
Banco Santander, BBVA and CaixaBank in connection with the financing to Forestalia Renovables in the construction and development of wind farms in Aragon for 300MW.
The commercial banks on the refinancing of the existing debt of Tranche 4 of the Barcelona Metro Line.

Qualifications
Professional
Academic
Business Degree, Fundación Universitaria San Pablo CEU, 2004
Postgraduate, Business Law, Fundación Universitaria San Pablo CEU, 2003
Law Degree, Fundación Universitaria San Pablo CEU, 2002
Recognition
Vanessa Cuellas is a trusted lawyer for lenders and sponsors, is very fast and provides solutions that work for everyone in the transaction
Chambers Europe, 2021 (Banking & Finance)
One client stresses Vanessa’s “very good commercial vision” and adds: “She knows how to coordinate a team really well and is a very trusted lawyer.”
Chambers Europe, 2021 (Energy & Natural Resources)
She is very commercial and knowledgeable. She was very familiar with regulatory matters, with great knowledge of everything finance related.
Chambers Europe, 2021 (Project Finance)