Pinsent Masons instructed on €192m Spanish solar park financing

Pinsent Masons advised New York Stock Exchange-listed Ellomay Capital on the financing of a €192.5 million solar park at Talasol in western Spain.

The engineering, procurement and construction of the 300MW solar park will be undertaken by Metka EGN.

The work is scheduled for completion within 16 months.

Under the terms of the agreement between Ellomay and Metka, if the Talasol Project does not reach financial closing within 14 months, either party can terminate the agreement.

Ellomay has invested funds in the renewable, clean energy and natural resources industries in Israel, Italy and Spain.

The Pinsent Masons team acting on the deal included Madrid-based partner Pablo Dorronsoro and senior associate Marta Salazar Diaz.

Pinsent Masons announced the opening of its Madrid office in April last year.

Dorronsoro said: “This is one of the most significant transactions to have reached close since we established our presence in Spain.”