DLA Piper advises Victory Hill in a renewable energy joint venture with Spanish Power
DLA Piper has advised Victory Hill Global Sustainable Energy Opportunities, a UK listed fund managed by Victory Hill Capital Partners, on a joint venture with Spanish Power (Spawer), a renewable energy developer based in Madrid, to construct and operate a portfolio of Solar PV and Wind assets located across Spain, Portugal and Sweden, with a total capacity of around 250 MWS.
As part of this investment, valued at approximately €100 million (excluding debt) Victory Hill, which invests through its Victory Hill Global Sustainable Energy Opportunities fund, has acquired an 80% stake in Fusgar Energy, a company that generates energy from renewable sources.
The firms advice has included due diligence and negotiation of the investment documents, and certain tax matters.
Pablo Echenique, partner at Corporate, said: ” We are proud to have helped a terrific team in this deal, that evidences continuous confidence of the international investment community in Europe’s (particularly Spain’s) energy transition”.
DLA Piper Spain’s multi-jurisdictional Energy team was led by Pablo Echenique, corporate partner and Head of Energy. The Madrid office involved (mainly José María Barrios and Carlos Rodríguez, regulatory and tax partners, respectively, legal directors Luis Borrero, corporate, and Carlos Daza, regulatory, as well as Marcos Gil and Mariano Renedo, Corporate associates, María Velasco, Regulatory associate and Alberto Lobato, Senior Tax associate. From Lisbon, the partner involved was Nuno Castelo Branco, Corporate and Finance, and from Stockholm, Tim Hajberg, managing associate of Finance.
