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Watson Farley & Williams (“WFW”) has advised MYTILINEOS’ Renewables and Storage Development Business Unit (the “RSD BU”) on the acquisition from VIRIDI RE Development of a 50 MW photovoltaic plant under development in Jaén, Andalusia, Spain on which construction will begin shortly. The transaction closed on 14 December 2020.
As transaction legal advisors, WFW carried out the due diligence process, the drafting and negotiation of the SPA, the analysis of the fulfilment of all the conditions for ready to build and the drafting of other ancillary documentation for the execution of the SPA, as well as the coordination with all the parties involved and the assistance in the signing and closing of the transaction.
MYTILINEOS’ RSD BU is a leading global developer of utility-scale solar and energy storage projects. Providing expert services across the full range of solar power applications, the company benefits from decades of experience from MYTILINEOS in the thermal power sector. The RSD BU has significant experience and engineering capability in the successful integration of solar power to the grid. Further to their EPC activity, they have the expertise and capacity to support photovoltaic and energy storage projects for the complete lifetime of the project.
The multi-disciplinary WFW Madrid team that advised the RSD BU on the transaction was led by Madrid Office Head and Corporate Partner María Pilar García Guijarro, working closely with Regulatory Partner David Diez. They were supported by Corporate Senior Associate Javier Ruffin and Associate Beatriz Pérez.
María Pilar commented: “It is a pleasure for WFW Madrid to advise MYTILINEOS’ RSD BU on this successful closing, following our ongoing advice to them from across our international network of offices. This is a milestone which consolidates our strategic relationship with MYTILINEOS, a leading player in the renewable energy sector. We look forward to keeping advising them on the full-life cycle of their projects”.