Moeve and Exolum, through their joint venture Terminal Puerto Tartessos, have secured €105 million in project finance from BBVA and Kutxabank to support the development of Muelle Sur, a strategic logistics and maritime transport hub at Spain’s Port of Huelva.
The facility, which is already more than halfway through construction, is expected to become a key gateway for the handling of feedstocks and products linked to Moeve’s new second-generation (2G) biofuels plant. The project will support the company’s planned biofuel complex, which is set to become one of the largest 2G biofuel developments in southern Europe.
The financing will strengthen the project’s capital structure and support the long-term development of the logistics asset within the Port of Huelva’s Outer Harbour industrial complex. BBVA led the transaction as Sole Bookrunner, Sole Underwriter, Mandated Lead Arranger and Hedge Coordinator, while Kutxabank acted as Lead Arranger.
Moeve said the investment will play a key role in supporting its energy transition strategy by providing the logistics capacity needed to advance renewable fuel projects. Exolum added that the infrastructure will help modernise logistics operations, improve flexibility and safety, and support the handling of emerging energy products.
The Muelle Sur project includes the construction of a new 511-metre berth designed to enhance the logistics capabilities of the La Rábida Energy Park and Exolum’s facilities. The new infrastructure will improve vessel loading and unloading operations, enable more efficient handling of sustainable feedstocks and renewable fuels, and strengthen the port’s role in supporting Europe’s energy transition.
The companies said the development will contribute to greater operational efficiency, increased energy security and the creation of a more sustainable and competitive industrial base.
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