Thursday, February 22, 2024

Ventient completes renewables acquisition in Spain assisted by WFW

Ventient has completed the acquisition of 443 MW capacity in the Castilla y León region after obtaining in April the regulatory approval, comprising 203 MW of onshore wind and 240 MW of solar capacity to develop at the onshore wind sites, advised by Watson Farley & Williams


“The completion of this acquisition reinforces Ventient’s progression in the energy transition; combining wind and other technologies for effective green energy delivery in the future, reaffirms the importance of our company in Iberia, which is now over 1.2 GW of operating renewable generation and a significant pipeline of future development, and continues the sustainable growth of a leading renewable energy business within Europe,” said CEO, Mark Jones

The acquisition will bring Ventient’s installed capacity to a 2.8 GW set out to exceed 3 GW with the development of the hybridized solar portfolio included in the purchase.

Recognising their experience and long-term leadership in the region, Ventient will continue to work with Vapat for the delivery of best in class operations.

“Each step in our growth strategy represents a long-term development of our sustainable approach to the generation of renewable energy, which is also clearly seen in
our continued ESG leadership in the sector. The diversification of our energy portfolio will improve the reliability of energy production and allow us to better respond to the challenges faced by our environment due to climate change,” the CEO added.

The WFW Madrid Corporate team that advised Ventient on the transaction was led by Madrid Office head and partner María Pilar García Guijarro, working closely with senior associates Javier Ruffín and Juan Area Díaz de Atauri and associate Borja Gavilá.

María Pilar commented: “It is a pleasure to advise Ventient on the expansion of their energy business. We look forward to continuing to advise and assist them and help realise their plans to become a ESG leader in the sector. This transaction, which combines onshore wind projects under operation with hybridised solar projects under development, consolidates our specialist renewables team’s reputation as the leaders in the Spanish market and further strengthens our relationship with key sector players”.

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