Wind Turbine Blades

WFW advises EFG Hermes on the €160 million acquisition of 49% of French wind energy company EDP Renewables France

20 January 2015


Watson Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that a Paris office team has advised the private equity arm of EFG Hermes, the leading investment bank in the Middle East, and its investment vehicle Vortex Energy Investments, in relation to the €160 million acquisition of a 49% stake in EDP Renewables France.

EDP Renewables France is a subsidiary of EDPR (Energias de Portugal Renovaveis) and has a portfolio of 33 operational wind farms with a combined capacity of 334 MW that it will continue to manage. EDPR is headquartered in Madrid and is one of the top four renewable energy producers in the world with 8.6 GW installed across three continents.

Approximately half of the investment cost has been financed by Deutsche Bank and BNP Paribas.

This first investment by EFG Hermes in Europe is part of its private equity division’s new direct investment strategy, in particular with regard to the energy infrastructure sector.

Watson Farley & Williams advised EFG Hermes on all the legal and tax aspects of the acquisition and the organisation of the joint venture between EDPR and EFG Hermes.

Partner Vincent Trevisani said: “We are delighted to have advised EFG Hermes, a major economic player in the Middle East region, on their first ever investment in Europe. This transaction reflects the ability of our team to assist leading foreign institutional investors on complex cross-border acquisitions and our will to develop our business activities with the Middle East, now that we can also rely on our recently opened Dubai office.”

The WFW Paris team was led by partners Romain Girtanner (Tax), Vincent Trevisani (M&A – Projects) and Laurent Battoue (Regulatory), assisted by associates Kenza Alaoui Amini, Inès Garcia de las Bayonas (Corporate), Livia Rabuel (Projects), Nicolas Demeocq, Audrey Bertrand (Regulatory), Julien Criard, Maxime Leoni (Real Estate), Jean-François Tournier (Finance) and François Danzin (Tax). A WFW Madrid team led by partner Rodrigo Berasategui (Finance) assisted by Iñigo Hernáez Pérez-Iriondo and Juan Vicente Barquilla advised on Spanish law aspects.