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Thursday, February 22, 2024

MAIO Legal advises Elona Capital on €500m PV co-development

MAIO Legal has advised Elona Capital on the co-development of seven photovoltaic projects with EnerHi for an investment of ore than €500 million

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Elona Capital and EnerHi have reached an agreement to co-develop a portfolio of projects of up to 750 MW, which will represent a total investment of more than €500 million and will allow Elona Capital to provide projects to its first Infrastructure Fund.

Specifically, the co-development agreement covers seven greenfield PV projects located in six different provinces. The ultimate goal of both companies is the promotion, construction and, ultimately, the commissioning and operation of these facilities.

Both companies share the objectives of energy transition and consider renewable energy generation to be fundamental in the process of decarbonisation of economic activity.

Furthermore, Elona Capital and EnerHi understand that renewable energy generation is a great opportunity for the socio-economic development of those areas of our country that suffer the most intensely from the consequences of depopulation.

Elona Capital is an investment and asset management company specialising in the photovoltaic renewable energy sector in Spain and Portugal.

MAIO Legal advised on this deal with an Energy team formed by partner César Álvarez and lawyer Crina Radu from the Madrid office.

César Álvarez has been recently selected by Legal Dealmaker as one of the Top 100 Energy Dealmakers in Spain.

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