Mariscal & Abogados advises investors on PV portfolio acquisition

Mariscal & Abogados has advised Chroma Impact Investment and Sun Capital Development Partners on the acquisition of eight solar project vehicles with a capacity of 12.84MW in Spain from Univergy Solar

Belgium-headquartered Chroma Impact Investment and Sun Capital Development Partners, based in Spain, have signed a Share Purchase Agreement (SPA) with Univergy Solar for the acquisition of 100 per cent of the share capital of eight Spanish located in the Autonomous Region Valencia and Andalucia.

The portfolio is located in the regions of Valencia and Andalucia, being most of the projects in the process to reach PLA status. Univergy Solar will continue to develop and construct the facilities of each of the projects by means of a development services agreement.

Univergy Solar is a leading group of companies in the renewable energy sector, specialised in the development and construction of large solar and wind energy plants. By means of this transaction, the investors become the 100% owner of the projects and increase its installed aggregated capacity in Spain.

Mariscal & Abogados’ Legal assistance covered all the acquisition procedure – including, Legal Due Diligence, advice on the Spanish Regulatory framework for renewable projects, Transaction Structuring, Corporate issues and negotiating transaction documents (among others, share purchase agreement, development services agreements, EPC and OM).

On this transaction, Mariscal & Abogados acted as the Legal advisor to Chroma Impact Investment and Sun Capital Development Partners with a team led by M&A/Energy partner Alberto Álvarez (pictured left), together with senior associate Irene Terrazas (pictured top centre) and associates Jesús Alberto Martín (pictured bottom centre), Isabel Prat (pictured to right) and Salvador Gaitán (pictured bottom right).