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Sunday, May 19, 2024

Jones Day advises Aer Soléir on its partnership with Tartessos

Jones Day has advised Dublin-based Aer Soléir on its partnership with Spain´s renewables developer Tartessos Power Development for co-development of a hybrid project of over 130 MW in Andalusia

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Aer Soléir, a Dublin based, Irish Company focused on multi-technology renewable energy development, construction and operation with a particular emphasis on utility-scale onshore wind, solar, and energy storage projects throughout Europe and Tartessos Power Development, a Spanish based developer with an extensive track record in renewable energy development, have announced the signing of a development services agreement covering the co-development of a hybrid project of over 130 MW in the Andalusia region of Spain.

Tartessos has a strong presence across Spain and a robust greenfield renewable energy development portfolio. The partnership allows Aer Soléir to enter the Spanish market with a trusted collaborator and work together to successfully develop Aer Soléir’s first hybrid project. The agreement will see the two companies working closely together, enabling Tartessos to enhance its position as an accomplished green field developer and Aer Soléir to expand its portfolio in a new market.

Andy Kinsella, CEO, Aer Soléir states: “The agreement signed with Tartessos Power Development represents a significant milestone for Aer Soléir, our first investment in the Spanish market, and also the introduction of our first hybrid project with an experienced and committed developer in the Spanish renewables market. Tartessos bring strong local expertise and knowledge to this collaboration enabling Aer Soléir expand into the Spanish market. This investment shows our commitment to grow our portfolio into new markets.”

Rainer Kistner, Managing Director, Tartessos Power Development: “The partnership between Aer Soleir and Tartessos Power Development is a perfect match: a well-established renewable energy developer with a 25-year track record in Spain joining forces with an international investor backed by a leading global provider of private capital for the energy transition & decarbonization sector. The envisaged location in Southern Spain is the ideal spot for an innovative hybrid project with the objective to produce during day and night renewable energy at lowest costs.”

Jones Day acted as legal advisor and Evergy as technical advisor to Aer Soléir on the transaction. Agere Infrastructure Partners acted as financial advisor to Tartessos.

Jones Day advised with a team led by of counsel Fernando Lillo, together with partner Raimundo Ortega and of counsel Blanca Puyol.

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