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Wednesday, February 21, 2024

Garrigues advises RES on IMFutuRe acquisition

Garrigues has advised Renewable Energy Systems (RES), the world’s largest independent renewable energy company on its acquisition of Spain´s O&M provider IMFutuRe

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Global renewable energy company, RES, has acquired IMFutuRe – a leading Spanish Operations and Maintenance (O&M) provider and with it, contracts to provide 1.5GW of O&M services for 1400 wind turbines in Spain and Portugal.

This deal sees RES enter the Iberian market as it moves at pace to grow its support services business – providing high value asset management and O&M services to clients. RES now supports more than 12 GW of operational assets across the globe with a focus on enhancing asset lifetime and performance, while improving financial outcomes for customers.

As a leader in wind maintenance techniques, and well known for its blade inspection and repair capabilities, IMFutuRe has inspected and repaired over two thousand blades in the last three years. All 167 employees along with the management team will join RES and continue to provide services for customers including Iberdrola, EDPR, Naturgy, EnergieKontor and Olivento. 

The deal is the third RES has made in the last 12 months, following on from acquisitions in Australia and Denmark, as it seeks to strengthen its offering across multiple technologies and markets. 

Marco Perona, RES’ CEO – Support Services, commented: “RES has ambitious growth plans for its global Support Services business and continue to implement our strategy, entering new segments and markets. The acquisition of IMFutuRe will strengthen RES’ overall position in wind energy services combining opportunities and additional clients with enhanced capabilities. As we establish ourselves in Spain and Portugal, we will expand our O&M service provision to cover solar and storage, and asset management across all technologies.” 

José Antonio Riveiro, General Manager at IMFutuRe, “Becoming part of RES allows us to bring an even broader range of services and solutions to our customers; and provides exciting growth opportunities for our people.”

Garrigues advised RES with a tem led by partner Álvaro Valle, together with associates Sofía Rubiales and Julián Belsito.

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