Repsol’s Incorporation of Crédit Agricole Assurances and EIP

Freshfields Bruckhaus Deringer and Baker McKenzie advised global energy group Repsol on the deal.

Repsol incorporated Crédit Agricole Assurances and EIP as partners in its renewable energy business. Pursuant to the transaction, the two investment groups have agreed to jointly acquire a 25% stake in Repsol Renovables, the renewable energy arm of Repsol.

This transaction represents yet another a milestone in Repsol’s sustainability strategy. Renewable electricity generation is one of the main pillars in Repsol’s decarbonisation model, after it became, in 2019, the first company in its sector to make a commitment to reach zero net emissions by 2050.The incorporation of the two partners includes an investment commitment in line with Repsol’s strategic plan to reach 6 GW of installed renewables capacity in 2025. 

Repsol Renovables currently has more than 1.6 GW of installed renewable capacity and is present in Spain, the United States, Chile and Portugal.

The transaction is currently expected to close before the end of the year, subject to regulatory approval.

The Freshfields team advising Repsol was led by partner Alfonso de Marcos (Picture) and counsel Joe Amann, with the support of associates Asís Martin de Cabiedes and Chelsey Kaka. The team also includes partners Armando Albarrán and Silvia Paternain, senior associate Cinta de Retana, associate Miguel Angel Calvo and trainee solicitor Chloe Clavell.

The Baker McKenzie team was led by Antonio Morales, Jonathan Farrokhnia, Jose Moran and Carlos Suarez, the Baker McKenzie team included Rocio Rodriguez Ruiz, Matthew McCarthy, Jessica Wicha and Sarah Swain.

Involved fees earner: Jonathan Farrokhnia – Baker McKenzie; Matthew McCarthy – Baker McKenzie; Antonio Morales – Baker McKenzie; José Morán – Baker McKenzie; Rocío Ruiz – Baker McKenzie; Carlos Suarez – Baker McKenzie; Sarah Swain – Baker McKenzie; Jessica Wicha – Baker McKenzie; Armando Albarrán – Freshfields Bruckhaus Deringer LLP; Joe Amann – Freshfields Bruckhaus Deringer LLP; Miguel Ángel Calvo – Freshfields Bruckhaus Deringer LLP; Alfonso De Marcos – Freshfields Bruckhaus Deringer LLP; Cinta de Retana – Freshfields Bruckhaus Deringer LLP; Chelsey Kaka – Freshfields Bruckhaus Deringer LLP; Asís Martín de Cabiedes – Freshfields Bruckhaus Deringer LLP; Silvia Paternain – Freshfields Bruckhaus Deringer LLP;

Law Firms: Baker McKenzie; Freshfields Bruckhaus Deringer LLP;

Clients: Repsol SA;

Giulia Di Palma

Author: Giulia Di Palma