Uría Menéndez has advised Bibby Marine on the construction and financing of a zero-emission vessel for the offshore wind industry
January 29, 2025 
Uría Menéndez, in collaboration with the international law firm Norton Rose Fulbright, has advised Bibby Marine on the construction of a zero-emission electric vessel, as well as on the associated financing provided by HSBC UK.
The vessel will be used to install and commission offshore wind farm installations. HSBC UK’s financing is backed by CESCE, the Spanish export credit agency. HSBC acted as ECA coordinator, mandated lead arranger and facility agent.
The vessel will be built by Astilleros Armón in Vigo, Spain, and equipped with a powerful 25 MWh battery system, which can be recharged by dual-fuel hybrid engines running on methanol or diesel. Its design also enables direct offshore recharging by connecting to the wind farm, allowing for zero-emissions operation while ensuring operational flexibility and continuity.
The Uría Menéndez team was led by Carlos López-Quiroga and José Sánchez-Fayos, with support from Andreea Croitor, who coordinated the transaction and its commercial aspects. Guillermo Canalejo and Blanca García Velloso advised on the tax aspects of the deal.
The Norton Rose Fulbright team was led by partners Andrew Williams and Philip Roche, supported by associate Oliver Webber. Partner Matthew Hodkin and associate Elisabeth Trotter provided tax advice.
Watson Farley & Williams advised HSBC UK.
Congratulations to our Maritime and Transport team who, in collaboration with our Tax team, has advised Bibby Marine on this shipbuilding and financing deal that the prestigious industry publication Marine Money has chosen as “Green Deal of the Year”. This transaction promotes the decarbonisation of the maritime sector through an innovative vessel that embraces sustainable and efficient technologies, setting the standard for the industry’s future.