Ontier advises in Fundeen´s Project Financings under citizen investment regime

Ontier has advised Fundeen on the structuring, negotiation and financing of two major renewable energy projects in Spain under a citizen investment scheme. The first transaction involves a collective self-consumption portfolio comprising eight rooftop solar photovoltaic installations located in Mallorca (Balearic Islands), developed under a project finance structure together with the developer RCSM. The second, known as the Catalan Portfolio, includes five photovoltaic plants located in Vallès Oriental, Vallès Occidental and Terra Alta (Catalonia), developed by Electra Caldense Holding under a corporate financing structure. Both projects aim to democratize access to clean energy and encourage local participation in sustainable investments.

The Balearic Project, developed in collaboration with Mallorca FV —a company belonging to the Swedish group RCSM—, represents a pioneering model of collective self-consumption. This initiative allows residents and businesses located within a two-kilometre radius of the facilities to benefit directly from the generation and use of local solar energy. The renewable energy produced by the project will prevent the annual emission of approximately 783 tonnes of CO₂ equivalent, contributing to the region’s decarbonisation goals.

Meanwhile, the Catalan Portfolio, comprising five solar parks located in Catalonia’s Vallès Oriental, Vallès Occidental and Terra Alta regions, will help avoid around 6,200 tonnes of CO₂ emissions per year. Both initiatives promote the transition to clean and affordable energy while offering attractive investment opportunities for citizens wishing to participate as co-investors in the renewable energy sector.

Ontier played a key role throughout the legal process, advising on the legal due diligence, including regulatory matters and photovoltaic self-consumption agreements. The firm also supported the structuring and negotiation of financing, the drafting of security packages under Spanish law, coordination with project sponsors, and the negotiation of all related documentation. The team was led by Israel Gómez-Caro, partner in the Banking & Finance practice, and Silvia San Felipe, manager of the Regulatory Department, with the support of Esteban Cuyás (director, Banking & Finance), María Luisa Cid (junior associate, Banking & Finance), Adrián García Pacios (associate, Regulatory), María Colino (associate, Energy) and Pedro de Ussía Arocena (associate, Energy).