solar panels in field with flowers

WFW advises Everwood on acquisition and financing of 15 Spanish PV installations

9 November 2016

International law firm Watson Farley & Williams (“WFW”) has advised Everwood Capital S.G.E.I.C., S.A. (“Everwood”) on the acquisition of 15 photovoltaic installations in Spain. 10 of the installations are located at the 50 MW Olmedilla de Alarcón plant in Cuenca and five at the 900 KW Gerindote plant in Toledo. Everwood made the acquisitions via its SPV Everwood Fotovoltaica I SICC, S.A fund.

The acquisition of the 15 installations was financed by a combination of share capital and bank financing, arranged as a project financing. WFW also advised Everwood on the subsequent financing of the 15 installations.

The WFW Madrid team advising Everwood was led by Spain Managing Partner and Corporate Head María Pilar García Guijarro, assisted by corporate Associate Eduardo Dachary. Regulatory advice was provided by Partner David Diez and his team.

María Pilar commented: “I’m delighted Everwood opted for WFW to advise them on these acquisitions. That Everwood has chosen to invest in Spanish renewables demonstrates the increasing attraction of the sector to investors following recent regulatory reforms. WFW’s strength in the renewables sector is firmly based on our ability to assist our clients throughout the entire life cycle of any renewables transaction”.