CC advises Grenergy on €83m sale of 150 MW solar farm in Spain

Clifford Chance has advised Grenergy, a listed renewable energy player specialising in the development, construction and management of photovoltaic, wind and storage projects, on the sale of 100% of its 150 MW Belinchón solar PV plant located in Cuenca (Spain) to a European IPP.

The deal represents net proceeds for Grenergy amounting to 83 million euros (equity value) and the first milestone of its Valkyria Project. The transaction is expected to be completed before the end of 2023 subject to the fulfilment of certain conditions.

The Clifford Chance corporate m&a team advising on the transaction was led by partner Luis Alonso, counsel Javier Hermosilla, together with associates Juan Valcárcel and Íñigo Navarrete.

Michael Heron