Cuatrecasas and WFW advise on Enlight´s wind farm project acquisition and finance

Cuatrecasas has advised Israel´s Enlight Renewable Energy on its acquisition of 70% stake in Gecama wind farm Project Company in the Spanish region of Castilla-La Mancha, while Watson Farley & Williams has advised the lenders on the financing

The acquisition of 45% of the capital was a pre-requisite for securing the financing for the 312 MW Gecama wind farm project in Spain. This way, Enlight will hold around 70% stake in the project company, investing €115 million. Its project partners, Israeli insurance groups Phoenix Holdings Ltd and Menora Mivtachim Holdings Ltd, will provide the rest of the capital.

The wind and solar projects developer secured a senior debt for 50% of the total cost of Gecama, which is estimated at €320 million. The financing is structured as a non-recourse loan with Spanish lenders Banco de Sabadell and Bankia.

The project, scheduled to be operational in 2022, is expected to generate average annual revenues of €60 million and provide clean energy to approximately 260,000 Spanish homes.

Enlight´s legal advisers in the Gecama project are Clifford Chance and Cuatrecasas, with Watson Farley & Williams advising the lenders in the funding process.

Cuatrecasas advised on the majority stake acquisition with a team formed by Public Law partner Luis Pérez de Ayala (pictured right), M&A partner José Luis Rodríguez, M&A senior associate Marta Benjumea, and lawyers Ana Laso and Natacha Cerdeño

WFW´s Financial team was led by partner Rodrigo Berasategui (pictured left), along with senior associate Jacobo Hermidas.


Cuatrecasas and WFW advise on Enlight´s wind farm project acquisition and finance

Desire Vidal

Iberian Lawyer, is a monthly digital magazine, published by LC Publishing, available in Spanish and English. It represents the main source of information in the legal business sector in Spain and Portugal. The digital magazine – and its portal – address to the protagonists of law firms and in-house lawyers. The magazine is available for free on the website and on Google Play and App Store.

In every issue of the magazine, you will find rankings of lawyers, special report on trends, interviews, information about deals and their advisors.

For further information, please visit the Group’s website

Iberian Lawyer
Registered office: C/ Manuel Silvela, 8 - Oficinas 1 Dcha 28010 Madrid España

Copyright 2022 © All rights Reserved. Design by Origami Creative Studio


Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram