- The project, which is already more than 50% complete, includes a berth at the Port of Huelva’s Outer Harbour that will modernize the logistics infrastructure of Moeve’s La Rábida Energy Park and Exolum’s nearby facilities
- BBVA and Kutxabank will provide 105 million euros under the project finance model, supporting this key project to advance the energy transition and strengthen Europe’s strategic autonomy
- The new terminal being developed by Moeve and Exolum will facilitate the logistics of sustainable feedstocks and renewable fuels, while enhancing operational efficiency, increasing logistics flexibility, and reinforcing the site’s safety
Madrid, July, 09, 2026. Moeve and Exolum, through their joint venture Terminal Puerto Tartessos, have secured financing from BBVA and Kutxabank to support the development of Muelle Sur, a strategic logistics and maritime transport hub located at the Port of Huelva. The facility – already more than halfway through construction – will become one of the main gateways for feedstocks and products associated with Moeve’s new second-generation (2G) biofuels plant, which will form part of the largest 2G biofuel complex in southern Europe.
The transaction, for an amount of 105 million euros has been structured as a project finance transaction. The financing will optimize the project’s capital structure and support the long-term development of a strategic logistics asset within the Port of Huelva’s Outer Harbour industrial complex. BBVA led the structuring of the transaction, acting as Sole Bookrunner, Sole Underwriter, Mandated Lead Arranger (MLA), and Hedge Coordinator, together with Kutxabank, which acted as Lead Arranger. Garrigues acted as Terminal Puerto de Tartessos legal advisor, while Gómez-Acebo & Pombo acted as legal advisor of the financial institutions.
Carmen de Pablo, CFO and Director of Strategy, Sustainability and M&A at Moeve, said: “Muelle Sur is a critical logistics asset for advancing the energy transition and strengthening Europe’s autonomy. This financing agreement supports a project that will enable us to improve efficiency and secure the logistics capacity required at our Huelva facilities to advance our green molecule projects.”
David Folgado, CFO of Exolum, said: “Logistics is a fundamental enabler of the energy transition. Muelle Sur will provide us with a more modern and flexible infrastructure prepared to handle new energy vectors, enhancing operational efficiency and safety while contributing to the development of a more sustainable and competitive industrial base. This financing has also enabled the structuring of a transaction that demonstrates a strong appetite in the project finance market for supporting critical energy-transition infrastructure, creating value for the development of this type of asset.”
The Muelle Sur project includes the construction of a new 511-meter-long berth that will modernize the logistical capabilities of the La Rábida Energy Park and Exolum’s facilities. The new infrastructure will optimize vessel loading and unloading operations and enable a more efficient handling of sustainable feedstocks and the distribution of new renewable fuels. It will also increase operational flexibility and reinforce the safety of the complex, contributing to enhanced European energy autonomy.
