Watson Farley & Williams (WFW) has advised Velto Renewables on its upcoming €1.1 billion acquisition of a 260 MW regulated operational photovoltaic (PV) portfolio in Spain from Plenium Partners and Bankinter. Under the agreement, Velto will acquire 163 MW of regulated PV projects from Helia II FCR, an investment vehicle promoted by Bankinter Investment and Plenium Partners. Additionally, Plenium Partners has contributed 97 MW from its own portfolio to the deal. Together, these assets comprise 53 operational PV projects with a combined capacity of approximately 260 MW.
Velto Renewables is an international renewable energy producer focused on developing, building, and operating energy projects with a long-term strategy. Established in 2020, Velto is backed by global investment group La Caisse (formerly known as CDPQ). Plenium Partners, founded in 2007 and based in Madrid, specializes in sustainable energy and infrastructure investments across Europe. Bankinter Investment has created 28 alternative investment vehicles over the past nine years, attracting more than €5.1 billion in committed capital from investors.
María Pilar García Guijarro said, “We are proud to have advised Velto on one of the largest energy transactions in Spain in recent years. Once again, we have supported our clients on strategic M&A transactions key to advancing Spain’s energy transition.”
Javier Ester added, “This deal demonstrates the effectiveness and agility of our team in navigating complex transactions to deliver results with speed and precision.”
The multidisciplinary WFW Madrid team advising Velto was led by María Pilar García Guijarro, WFW Energy Sector Head for Europe & the Americas, Madrid Office Head, and Corporate and M&A Partner, along with Corporate and M&A Partner Javier Ester. They were supported by Senior Associate Jaime Salazar and Associates Daniel Schaub, Teresa Baselga, Paul Stone, Cristina Martínez, Helena Rubert, and Paula García. Regulatory expertise was provided by Counsel Lidia Fernández, Senior Associate Ignacio Soria, and Associates Isabel Rodríguez de Codes, Miguel Rubio, and Carlota Díaz. Real estate support was delivered by Isabel Rozas and Rocío Sebastián de Erice. The acquisition marks a significant step for Velto Renewables as it strengthens its presence in the Spanish energy market and contributes to the country’s ongoing shift toward renewable energy sources.
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