Wind Turbine Blades

WFW advises the Danish Renewable Energy Group Greentech Energy Systems on the €51.4m acquisition of a wind farm in Spain

20 October 2011

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised the Danish renewable energy group Greentech Energy Systems on the €51.4m acquisition and project finance for a 30 MW wind farm in Tarragona, Spain, acquired from Gamesa.

The project finance was obtained from two major Spanish banks, Banco Santander and Banco Sabadell.

Only a few deals of this type have been executed and financed in Spain over the past few months owing to the country’s economic situation, but this deal demonstrates the high level of confidence among the international investor community, as well as major banks in the Spanish renewables sector.

Madrid-based Corporate partner María Pilar García Guijarro, who lead on the deal, commented: “This deal has been executed in an extraordinarily short time frame, which proves the strength and capabilities of our Madrid team to advise domestic and international clients on all type of transactions, meeting the client’s requirements and overcoming the difficulties in the markets”.

The team at WFW consisted of: María Pilar García Guijarro, Joaquín Sales Saborit, Ignacio Borrego, Luis Soto, Laura Cadenas, Tatiana Vernaza, Ana Calvo and Yasmina Frasquet.