WFW assists REEF in Spanish PV acquisition

Watson Farley & Williams has assisted REEF Development Ltd in its acquisition of a 49.99 MW photovoltaic plant in Extremadura from Viridi RE Development GmbH

The transaction was signed on 7 May 2020. Acting as transaction advisors, WFW carried out the due diligence process, the drafting and negotiation of the share purchase agreement, the development agreement, and certain ancillary agreements executed within the framework of the transaction.

The firm assisted in setting up a vehicle to establish the appropriate Corporate and Tax structure for this investment and also advised on Spanish Regulatory matters.

REEF is a privately-owned photovoltaic project investor involved in the full project-cycle development value chain with its current business activities focused on the markets in Spain and Portugal.

The WFW´s Madrid Energy team advising on this transaction was led by Corporate partner and office head María Pilar García Guijarro (pictured), working closely with Regulatory partner David Diez (pictured), Tax partner Luis Soto and Corporate senior associate Javier Ester, among others.