With the closing of this transaction, Brookfield has entered into the business of Kishoa S.L., after taking an equity stake in Powen.
This deal, which was approved by the European Commission considering that the operation will not have a negative impact on the European economic area, allows Kishoa S.L. to consolidate its position in the business to consumer and business to business solar photovoltaic market, as well as to advance in its strategy of making the Powen brand a benchmark in photovoltaic self-consumption worldwide. Powen has a commercial presence in Spain, Mexico and Portugal, and the incorporation of Brookfield as a strategic investor in the business will allow it to strengthen its position in the countries in which it currently operates, as well as to open up new markets.
According to Powen, this deal represents its main strategic initiative since its founding in 2017, and “advances its strategy to become a global benchmark in photovoltaic self-consumption,” as it explains that the strategic entry of Brookfield Renewable will consolidate Powen’s position in the markets in which it is currently present, Spain, Mexico and Portugal, “as well as its expansion into new markets and new lines of business related to the energy transition.”
Cuatrecasas advised Kishoa (Powen) with a Corporate/M&A team made led by partner Francisco J. Martínez Maroto, together with associates Amador Rodríguez, Álvaro Lucena and Julio Otero, who were supported by other professionals of the firm from different practice areas.
