Muelle Sur Huelva, a new maritime terminal under construction at the Port of Huelva’s Outer Harbour, has secured 105 million euros in project finance from BBVA and Kutxabank. The facility is being developed by Terminal Puerto Tartessos, a joint venture between Moeve and Exolum, and is already more than 50% complete.
The financing backs a new 511-metre berth serving Moeve’s La Rábida Energy Park and Exolum’s adjacent facilities. Muelle Sur Huelva is positioned to become one of the main logistics gateways for Moeve’s forthcoming second-generation (2G) biofuels plant, part of what the company describes as the largest 2G biofuel complex in southern Europe.
Muelle Sur Huelva Financing Structure
BBVA led the transaction as sole bookrunner, sole underwriter, mandated lead arranger and hedge coordinator. Kutxabank joined as lead arranger. Garrigues advised Terminal Puerto Tartessos, while Gómez-Acebo & Pombo represented the lending banks.
The deal is structured as project finance rather than corporate debt, tying repayment to the terminal’s own future cash flows. That structure signals lender confidence in the terminal’s standalone commercial viability, independent of the wider Moeve and Exolum balance sheets.
Muelle Sur Huelva: What the New Berth Adds to the Outer Harbour
The 511-metre berth will modernize vessel loading and unloading across the port complex, lifting throughput capacity for sustainable feedstocks and renewable fuels. Muelle Sur Huelva is designed to give both companies greater logistics flexibility as biofuel and renewable fuel volumes scale up through the site.
Moeve and Exolum have framed the upgrade around operational efficiency and site safety as much as raw capacity. It will also support the broader Outer Harbour industrial complex, where several energy transition projects are advancing in parallel.
Exolum’s Role in the Terminal Puerto Tartessos JV
Exolum operates one of Europe’s largest independent liquid fuel logistics networks, and the Huelva project extends that footprint into renewable feedstock handling. The berth sits alongside Exolum’s existing facilities at the port, allowing shared infrastructure across conventional and renewable product streams.
The financing follows a period of ownership change at Exolum, with its shareholder base shifting as infrastructure investors reposition around European energy transition assets.
Spain’s Outer Harbour Buildout and the Wider 2G Biofuels Push
Huelva’s Outer Harbour has become a focal point for Spain’s energy transition infrastructure, with multiple downstream and logistics projects advancing alongside Moeve’s biofuels investment. The port complex combines conventional refining and storage assets with new renewable fuel capacity, giving operators shared marine access rather than standalone jetties.
Second-generation biofuels, produced from waste and residue feedstocks rather than food crops, require different logistics handling than first-generation biodiesel. Muelle Sur Huelva has been designed with that distinction in mind, supporting the storage and transfer needs of feedstocks that arrive by sea rather than by pipeline or rail.
Why Project Finance Lenders Are Backing Muelle Sur Huelva
Exolum’s chief financial officer David Folgado said the transaction reflects strong appetite in the project finance market for critical energy transition infrastructure. Moeve’s chief financial officer Carmen de Pablo said the terminal is central to securing the logistics capacity needed for the company’s green molecule projects at Huelva.
Muelle Sur Huelva is scheduled to enter service as construction progresses toward completion, with Moeve’s 2G biofuels plant set to become the terminal’s primary anchor customer once operational.
For terminal operators and project developers tracking Iberian energy infrastructure, Muelle Sur Huelva offers a working template for financing new-build marine terminals tied to renewable fuel demand. Project finance, rather than balance-sheet funding, is likely to become more common as banks look for bankable, revenue-backed energy transition assets. Source: Exolum press release.
What is Muelle Sur Huelva?
Muelle Sur Huelva is a new maritime terminal under construction at the Port of Huelva’s Outer Harbour, built around a 511-metre berth serving nearby energy and logistics facilities.
Who owns Terminal Puerto Tartessos?
Terminal Puerto Tartessos is a joint venture between Moeve and Exolum, formed to develop and operate the Muelle Sur terminal.
How much financing did Muelle Sur Huelva secure?
The project secured 105 million euros structured as project finance, arranged by BBVA and Kutxabank.
What will the new berth handle?
The berth is designed to handle sustainable feedstocks and renewable fuels, supporting Moeve’s La Rábida Energy Park and Exolum’s adjacent facilities.
Why does Muelle Sur Huelva matter for the energy transition?
The terminal is intended to serve as a primary logistics gateway for Moeve’s second-generation biofuels plant, part of the largest 2G biofuel complex in southern Europe.