The portfolio comprises a mixture of merchant projects and projects with long-term PPAs.
Founded in 1984, London-based Foresight is a sustainability-led alternative asset and SME investment manager with £12.5bn AUM and a focus on investing in ground-based solar PV and battery storage assets globally. Paris-headquartered Infranity is an asset management company specialising in the infrastructure sector.
The multidisciplinary WFW Madrid team that advised Foresight on the Spanish Corporate Law aspects of the transaction was led by Corporate partner and WFW Madrid Office head María Pilar García Guijarro, supported by senior associates Javier Ruffin and Héctor Suárez and associates Jaime Salazar Arrancudiaga and Ángel de Martín. Regulatory expertise was provided by partner David Díez and senior associate Ignacio Soria. The team advised on the diligence process, as well as the drafting and negotiation of all transaction documents and on its closing.
WFW worked closely throughout the transaction with Foresight’s investment team, led by managing director – Iberia Carlos Rey Micolau, investment manager Alfonso Martínez Saramago and investment associate Franco Imperial.
María Pilar commented: “We’re delighted to have assisted our valued and long-standing client Foresight on this major transaction in the Iberian markets, where we were able to bring to bear on their behalf our unrivalled energy sector expertise and ability to work seamlessly across multiple jurisdictions”.
Royal Bank of Canada acted as Foresight’s lead financial advisor, while Infranity was advised by Uría Menéndez as legal advisor, and Sigrun acted as financial advisor.
Infranity was advised by Uría Menéndez with a team from the Spain office formed by Public and Environmental Law partner José Alberto Navarro and senior associate Juan José Serrano, M&A Private Equity partner Elizabeth Torrecillas, senior associate Abel Baselga and junior associate Carlos Anchel. From the Portugal office, the team was made up of Public and Environmental Law counsel Joâo Louro and M&A Private Equity senior associates María Magalhaes and Frederico Pinho.
