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Monday, September 26, 2022
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WFW advises Sanza Energy on PPAs commercialisation

Watson Farley & Williams has advised Sanza Energy the first online platform in Spain for the commercialisation of Power Purchase Agreements (PPAs), regarding legal and regulatory matters applicable to PPAs and the renewable energy sector in Spain, as well as on the drafting of the PPA model to be used as a template by Sanza Energy and its users

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Until now, PPAs have been negotiated and executed individually between different energy producers and off-takers, without common standards between them. WFW, for example, has advised medium and large producers, utilities, corporate off-takers, etc. on such negotiations. It was thanks to this extensive experience in and knowledge of the Spanish PPA market, that WFW helped play a key role in advising Sanza Energy in preparing a PPA model form including market-standard provisions with a balanced and bankable approach, which will be essential for the development, construction, and financing of renewable projects.

Sanza Energy is a ground-breaking new entrant to the Spanish energy sector, with its newly created platform easing and democratising access to PPAs and renewable energy sources to promote a green market. Their platform both assures price stability and leverages the PPA market for all participants since PPA Proposals can be uploaded to it and off-takers and generators will operate under the standards and performance guarantees that respected advisors, including WFW, have established.

María Pilar commented: “It was a pleasure to have played a role in such a ground-breaking project. The advice we gave Sanza Energy was based on our unrivalled track record and expertise in the renewable energy sector, especially having been involved in most relevant PPAs in the Spanish energy market”.

Sanza Energy Founder, Humberto Santillana, said: “Sanza Energy aims to transform the renewable energy sector, by democratizing the access to renewable energy at competitive prices. We are glad that WFW has partnered with us to ensure that our PPAs meet the higher standards to make projects bankable”.

G-Advisory acted as Sanza Energy’s technical advisers, KPMG as their financial advisers, and Howden as their insurance advisers.

The WFW Madrid team advising Sanza Energy was led by Corporate partner and Madrid Office head María Pilar García Guijarro, working closely with Regulatory partner David Díez, Finance partner Rodrigo Berasategui, and senior associates Javier Ruffín and Enrique Thomas de Carranza.

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