Various law firms advise on a €460m sale of a wind porfolio to Verbund
KPMG Abogados, Deloitte Legal and King Wood Mallesons have advised on the sale to Verbund Green Power of 100% of the shares of Viesgo Renovables and Viesgo Europa, companies holding a wind energy portfolio of 257 MW in Spain. The transaction, valued at €460 million, comprises the transfer of nine wind farms already in operation and with the possibility of hybridization.
Image: Ignacio Font (KPMG partner), Borja Escrivá de Romaní (Deloitte Legal partner) and Roberto Pomares (KWM partner).
KPMG Abogados has advised Verbund AG (of the Verbund Group, Austrian leader in the energy sector) on financial and tax due diligence and tax advice in the transaction. Ignacio Font (partner) and Joaquín Roger (senior manager) from the tax area have participated in the project.
Deloitte Legal and King Wood Mallesons have advised EDP Renováveis EDPR.
Deloitte Legal tax team has benn composed by: Borja Escrivá de Romaní (partner), Gerardo Cuesta (partner), Sergio Ramirez Soto (senior associate) and Gonzalo Mayo (senior associate).
King Wood Mallesons M&A partner, Roberto Pomares, has been in charge of leading the multidisciplinary team, with the work of senior associate Enrique Murillo and associate Alejandra Martín.
Viesgo Renovables and Viesgo Europa are both owners of 9 wind farms distributed throughout Spain. Prior to the acquisition by Verbund, both entities were wholly owned by EDPR, a green subsidiary of the Portuguese EDP group.
This transaction is part of the €7 billion asset rotation program announced at the company’s Capital Markets Day held in March 2023, enabling EDPR to accelerate value creation and recycle capital for reinvestment in profitable growth.
