KWM advises on the transfer of 50% of the Aboño coal-fired power plant to the Asturian group Corporación Masaveu.
King & Wood Mallesons (KWM) has advised the Portuguese energy company EDP on its agreement with the Asturian industrial group Corporación Masaveu (Masaveu) for the conversion to gas of the Aboño coal-fired power plant in Asturias. As part of the agreement signed yesterday, both groups will share ownership (50%) of the facility, which until now was owned by the EDP Group.
The operation is part of EDP’s commitment to be coal-free by 2025. Aboño consists of two coal-fired groups (Aboño I and II), with a combined capacity of 904 MW, and plays a key role in supporting the security of electricity supply to Asturias.
EDP will continue with its project to build the Asturian green hydrogen valley. This project is one of the most important in Europe in this field and has obtained the IPCEI accreditation from the European Union. In addition, it is the only project in Spain included in the four lines of support that the European Union has for green hydrogen projects.
The KWM lawyers (pictured on the principal image) who have coordinated this project have been Roberto Pomares (corporate partner), Gonzalo Fernández (corporate senior associate) and Elena Torrecillas (corporate associate).
The rest of the KWM team is formed by: partners Gonzalo Olivera (energy) and Carlos Gil (labor); counsel Felix Hernandez (finance), Fernando Jimenez (tax) and Alberto Artés (energy); senior associate Sandra de Andrés (labor); and associates Evdokia Elena Gonos (energy) and Pilar Lorenzo (real estate).
