Clifford Chance has advised ENI on the deal.
ENI signed an agreement with Azora Capital for the acquisition of a portfolio of nine renewable energy projects in Spain.
The operation involves the acquisition of three wind farms in service and a wind farm under construction in the central/northern area of the country, for a total of 230 MW, and five large solar projects in advanced development for around 1 GW. For all the plants under construction or in development, Eni and Azora will work together to ensure entry into production by 2024. In addition, Eni and Azora are working towards a broader strategic agreement to further scale-up Eni’s renewable energy platform in Spain.
The agreement is part of Eni’s development strategy in the Spanish market and focuses on the combined development of renewable power generation capacity and retail customer base.
Clifford Chance advised the client with a multidisciplinary and cross-border team that included professionals from Madrid and Milan offices. The Madrid team was lead by Javier Hermosilla (Picture) and comprised Juan Valcárcel, Lucía Herrero, Laura Geli, Mónica Romero, José Luis Zamarro, Eugenio Fernández-Rico, Marta Ruiz, Natalia García, Begoña Martínez, Clara Ortells, Begoña Barrantes, while the Milan team included Paolo Sersale and Filippo Isacco.
Involved fees earner: Eugenio Fernández-Rico – Clifford Chance; Natalia García – Clifford Chance; Laura Geli – Clifford Chance; Javier Hermosilla – Clifford Chance; Lucía Herrero – Clifford Chance; Filippo Isacco – Clifford Chance; María Begoña Barrantes – Clifford Chance; Mónica Romero Martínez – Clifford Chance; Marta Ruíz – Clifford Chance; Paolo Sersale – Clifford Chance; Juan Valcárcel – Clifford Chance; José Luis Zamarro – Clifford Chance;
Law Firms: Clifford Chance;
Clients: Eni S.p.A.;