SPB advises on the partnership between TimeToAct and Alten Management

Squire Patton Boggs has advised TimeToAct Capital, a global investment group specializing in climate and impact strategies, on its joint venture with the Management Team of Alten Energías Renovables (“Alten”) to boost the development of c.750 MWp of solar PV and Battery Energy Storage Systems (BESS) projects in Mexico, Italy, and other strategic regions in Europe.

Alten is a renowned player in the solar PV industry with capabilities across the entire value chain including project development, financing, construction, operation, and maintenance in Southern Europe, LatAm, and Sub-Saharan Africa. Since its inception in 2006, Alten has shown strong and sustained growth in developing, building, and putting in operation 11 solar plants worldwide, which represent more than 500 MWp in projects. This transaction will significantly accelerate the new joint venture’s activities and give the firm the means to transition as an Independent Power Producer (IPP).

Through this partnership, TimeToAct Capital achieves a significant milestone in line with its strategy to drive the rapid adoption of cleaner energy sources in underserved markets, especially in Mexico representing c.635 MWp of the project pipeline. Mexico boasts one of the world’s highest solar potentials, yet the current utilization of this capacity remains below 30%. Thanks to this joint venture both companies aim to unlock the untapped solar potential in the region.

Squire Patton Boggs’ Madrid office team, led by M&A partner Carlos Blanco Morillo and comprising senior associate Javier Arenas Olivencia and associate Íñigo Oliván García, acted as legal advisors to TimeToAct Capital.

Julia Gil