Cuatrecasas advises ACCIONA Energía on sale of San Juan de Marcona wind farm to Luz del Sur
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SubscribeCuatrecasas has advised ACCIONA Energía on closing the sale of its entire shareholding in Energía Renovable del Sur—the company that owns the San Juan de Marcona wind farm—to Luz del Sur, one of the country's leading energy companies. The transaction amounts to $256 million.
The transaction was formalized after obtaining all the necessary authorizations, including that of the Peruvian National Institute for the Defense of Competition and the Protection of Intellectual Property.
San Juan de Marcona, located in Ica (Peru), has been in commercial operation since the end of 2023 and, with a capacity of 135.7 MW, has established itself as one of the country's major renewable energy generation projects.
The sale of the San Juan de Marcona wind farm is part of ACCIONA Energía's asset rotation strategy, aimed at optimizing its renewable portfolio and strengthening the group's financial position. Along those lines, the company has reached agreements for the sale of approximately 2.6 GW of renewable energy facilities in Spain, the United States, South Africa, Costa Rica, Mexico, and Peru.
Oscar Trelles, managing partner of the Cuatrecasas Lima office and lead counsel on this transaction, commented, “We are proud to partner with ACCIONA Energía on this transaction, which reinforces its global strategy of generating value through asset rotation and its commitment to renewable energy. This milestone not only underscores ACCIONA Energía’s leading position in the energy transition but also consolidates Peru as a key market for sustainable project development with regional impact.”
The Lima office advisory team was made up of lawyers Oscar Trelles, Iván Blume, Juan Pablo Porto, Ramiro Portocarrero, Mariano Peró, Giorgio Balza, Lisbeth Gárate, Fernando Salhuana, María Pía Agramonte, Luis Enrique Baca, Goran Boisset, Rodrigo Pérez, and Victor Tejada.
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