Dentons advises Aquila on purchase of 100MW portfolio

Dentons has advised Aquila Capital on the purchase of a 100MW solar portfolio in Spain

pjimage 2022 02 10T120336.937Dentons has advised Aquila Capital, a German investment management and sustainable asset development company, on the agreement to purchase a 100 MW solar portfolio in southern Spain from the Greek industrial group Mytilineos. With the operation, Aquila acquires, through its Renewables and Storage Development Business Unit (RSD), two solar plants, of 50 MW each, which will come into operation at the end of this year.

It is estimated that the solar plants, located in Jaén and Almería, and still under construction, will produce 200GWh of 100% clean energy per year. These types of operations confirm the growing importance of Spain as one of the main markets for photovoltaic solar energy in Europe.

The transaction represents an important step in the settlement strategy of Aquila Capital, which already manages wind, solar photovoltaic and hydroelectric assets of more than 13 GW of capacity, of which more than 8 GW are in southern Europe. Spain is a key market for the German fund manager, where the company has a portfolio of more than 60 projects under development, construction or in operation.

For its part, Mytilineos has a strong international presence on five continents and its exports to foreign markets represent more than 2% of total Greek exports. It has a portfolio of photovoltaic and storage projects in various stages of development that exceed 4 GW in Iberia, Italy, the United Kingdom, Cyprus, Romania, Chile, Australia and South Korea.

In less than a year since their arrival at Dentons, Fermín Garbayo (pictured left) and his team have strengthened the Energy practice for which he is the partner in charge. Associates Mario Sáez de Bascuñana (pictured top right) and Almudena Gurpegui (pictured bottom right) accompanied him in the operation, with the support of the rest of the areas involved (Finance with counsel Luis Belart, Real Estate with counsel Itxaso López, Public with associate Natalia Palomar and Tax with associate Diego Carrera).

Michael Heron