Renewable energy project developer Oryx Power, which currently has 300 megawatts (MW) under development in Spain, has raised €40 million from Global Realty Capital, an investment vehicle that has Germany’s Rocket Internet as one of its main investors, for new renewable energy projects.
According to Oryx Power, the funds raised will allow it to invest in new projects, both in the development of large generation plants and self-consumption projects.
Oryx Power develops, manages, and invests in renewable energy projects in Europe, Latin America, and Africa, mainly in solar, wind, and water, as well as in energy storage technologies.
Oryx is involved in the entire process, from project origination to the operational phase, and in the area of self-consumption, it focuses on large customers.
In particular, it provides hybrid systems for self-consumption and sale to the market, where Oryx undertakes the investment by offering its customers long-term power purchase agreements (PPAs). Oryx has 300 MW under development in projects in Spain and more than 1,500 MW in other countries.
Global Realty Capital had Cuatrecasas as Legal advisor in the transaction closed with Oryx, the latter advised by Evergreen Legal.
Evergreen Legal´s team was led by partners Ignacio Freire and Luis Vegas, and included senior associate Celia Gil and associate Marina Roji.
Cuatrecasas advised Global Realty Capital with a team led by partner Diana Rivera, along with associates Amador Rodríguez and junior associate Ángel Ramos.