Clifford Chance advises Finerge on Spanish wind farm portfolio acquisition
Clifford Chance has advised Portuguese Finerge on the purchase of a portfolio of 242 MW onshore wind farms in Spain from EDPR for €426 million
Clifford Chance has advised Portuguese energy group Finerge, a portfolio company of First State Investments, on the acquisition from the EDP Renováveis group of a portfolio of operational onshore wind farms with installed capacity of 242 MW in Spain for €426 million, with an enterprise value of €507 million.
The transaction, announced earlier today by Iberian Lawyer, is the largest acquisition of Finerge in Spain up to date. The deal was organised as a competitive auction process open to prospective investors, being Finerge selected as preferred bidder. Completion is expected to take place in the last quarter of 2020, once the required prior regulatory authorisations are obtained.
The transaction, which involved a multi-disciplinary team, was led by M&A partner Luis Alonso (pictured left) and included, inter alia, M&A associates Javier Olábarri (pictured right), Enif Lobelos, María Aguayo and Lucía Herrero, as well as Public Law partner Jaime Almenar. Project Finance partner José Guardo advised Finerge on the debt financing of the acquisition, leading a team that also included associates María Sabau and Boris Alonso.