WFW advises Velto on 260MW Spanish PV portfolio acquisition
Watson Farley & Williams has advised Velto Renewables (Velto) on its upcoming €1.1 billion acquisition of a 260 MW regulated operational photovoltaic (PV) portfolio in Spain from Plenium Partners and Bankinter.
Under the agreement, Velto will acquire 163 MW of regulated PV projects from Helia II FCR, an investment vehicle promoted by Bankinter Investment and Plenium Partners. Additionally, Plenium Partners contributed 97 MW of its own portfolio to the deal. Together, these portfolios include 53 operational solar assets with a combined capacity of approximately 260 MW, supporting Spain’s transition to clean energy.
Velto Renewables is an international renewable energy producer that develops, constructs, and operates projects with a long-term vision. Founded in 2020, the company is backed by global investment group La Caisse (formerly CDPQ).
On the other side, Plenium Partners, headquartered in Madrid and founded in 2007, is an investment firm specialising in sustainable energy and infrastructure assets across Europe. Meanwhile, Bankinter Investment has successfully launched 28 alternative investment vehicles, raising over €5.1 billion in committed capital from investors over the past nine years, demonstrating its expertise in financing renewable energy projects.
The multidisciplinary WFW Madrid team that advised Velto was led by WFW Energy Sector Head – Europe & Americas and Madrid, Office Head and Corporate and M&A partner María Pilar García Guijarro and Corporate and M&A partner Javier Ester. Also, they were supported by senior associate Jaime Salazar and associates Daniel Schaub, Teresa Baselga, Paul Stone, Cristina Martínez, Helena Rubert and Paula García. Regulatory advice was provided by counsel Lidia Fernández, senior associate Ignacio Soria and associates Isabel Rodríguez de Codes, Miguel Rubio and Carlota Díaz. Isabel Rozas and Rocío Sebastián de Erice provided real estate expertise.
