Cuatrecasas advises on the acquisition of Iberwind by Ventient Energy
Cuatrecasas has advised Ventient Energy, the second-largest non-utility generator of onshore wind energy in Europe, on the acquisition of Iberwind and its subsidiaries, a leading player in the renewables energy sector in Portugal, with a portfolio comprising 31 wind farms with a total installed capacity of 726 MW.
This deal bolsters Ventient Energy’s position as a leading player in Europe’s renewable energy market by adding these wind farms to the 103 units it already owns and operates across Europe with an installed capacity of 1.9 GW.
Iberwind, with more than 300 wind turbine generators, produces roughly 15 per cent of the annual wind energy generated in Portugal and around 3 per cent of the electricity used in the country.
The company was previously acquired in 2015 by CK Infrastructure Holdings Limited and Power Assets Holdings Limited from a fund managed by Spanish private equity firm Magnum Capital.
The closing of the transaction is still conditional upon satisfaction of certain conditions precedent, including clearance from the Portuguese Competition Authority.
The advice rendered to this transaction involved a multidisciplinary team coordinated by Francisco Santos Costa, Partner from the Corporate/M&A department, along with Duarte Abecasis and Lourenço Vilhena de Freitas, both Partners from the Public and Regulatory department, Manuel Requicha Ferreira, Partner from the Banking and Finance department, and Sara Quaresma, Partner from the Real Estate department. The team was also formed by counsels Telma Carvalho, Margarida Leal de Oliveira and Ana Sofia Silva, from, respectively, the Corporate/M&A and Banking and Finance departments, and other associates from these departments, including Miguel Lencastre Monteiro, Francisco de Almeida Viegas, João Sequeira Sena and Gonçalo Nogueira.
Cuatrecasas is one of the most active law firms in mergers and acquisitions in Portugal and Spain, occupying, year after year, the top positions in M&A rankings published by financial information agencies such as Mergermarket, Transaction Track Record and Bloomberg.