EDP Renewables Sells Four Spanish Solar Parks to Tion Renewables
Deal News | Dec 19, 2024 | Addleshaw Goddard
Addleshaw Goddard, a distinguished law firm, has successfully advised EDP Renewables (EDPR) on the notable sale of a solar photovoltaic portfolio to German company Tion Renewables, in which EQT has a stake. This significant transaction, valued at €80 million, constitutes the sale of four operational solar parks located in Spain's Aragon and Andalusia regions. The parks, which collectively offer a capacity of 140 MW, are secured with 15-year power purchase agreements. The sale marks Tion Renewables' entry into the Spanish energy market and aligns with EDPR's strategic asset rotation program for the 2024-2026 period, announced last May. The advising team from Addleshaw Goddard was led by Corporate Partner Roberto Pomares, and included key members such as Senior Associate Enrique Murillo and Counsel Alberto Arts. This intricate transaction is a step towards the renewable energy market stabilization while positioning Tion Renewables strategically within Spain.
Sectors
- Renewable Energy
- Legal Services
- Private Equity
Geography
- Spain – The solar plants involved in the deal are located in Spain, specifically in regions Aragon and Andalusia.
- Germany – Tion Renewables, the acquiring company, is a German energy firm.
Industry
- Renewable Energy – This transaction involves the sale of solar photovoltaic power plants, indicating its anchorage in the renewable energy sector.
- Legal Services – Addleshaw Goddard provided legal advisory services in facilitating this transaction, marking the involvement of the legal services sector.
- Private Equity – The presence of EQT, an investment fund with a stake in Tion Renewables, highlights the role of private equity in the transaction.
Financials
- 80 million – Total value of the transaction involving the sale of the solar parks.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| EDP Renewables | Target Company | Company | A major renewable energy company involved in the sale of solar parks. |
| Tion Renewables | Buying Company | Company | A German energy company acquiring the solar parks in Spain. |
| Addleshaw Goddard | Legal Advisor | Company | A law firm providing legal advisory services for the transaction. |
| EQT | Investment Fund | Company | Holds a stake in Tion Renewables, participating indirectly in the transaction. |