Montero Aramburu and Costa Pinto advise on the entry of AltamarCAM in the investment platform created by Rainergy

Montero Aramburu has advised AltamarCAM in its entry into the investment platform created by Rainergy for the purchase from Mirova of a portfolio of mini-hydro plants. The Spanish law firm has been supported by Costa Pinto in the negotiation of contracts subject to Portuguese law.

Montero Aramburu has advised AltamarCAM, a global investment manager focused on private market investments, in the structuring and negotiation of the investment agreements necessary for AltamarCAM’s entry into the investment vehicle created by Rainergy for the acquisition, from the French company Mirova, of a portfolio of mini-hydropower plants located in northern Portugal.

The acquisition of this 33 MW mini-hydro portfolio strengthens Rainergy and AltamarCAM Partners’ position as high quality mini-hydro assets, characterized by a baseload generation profile and a strong operating track record in a region with some of the highest rainfall levels in Europe. In addition, there is the potential to implement hybridization at each plant in the acquired portfolio through solar PV technology and storage systems. This transaction adds further diversification of resources and revenues for Rainergy.

For its part, AltamarCAM Partners, with its addition to the investment platform, strategically expands its long-term capital base to continue to drive growth. This milestone is an example of the benefits of applying a sophisticated and integrated approach to managing the risk associated with renewable energy investments in the Iberian Peninsula.

The Montero Aramburu team included Miguel Cuesta and Ana Beatriz Gamero, corporate partners and co-heads of the energy practice, as well as Gadea Pérez de Guzmán and Víctor Moya, both corporate senior associates (all pictured).

The Costa Pinto team was formed by José Costa Pinto and Miguel Inácio Castro, partner and senior associate of corporate and M&A.