Schroders Greencoat acquires 49% of 400 MW energy portfolio from Repsol Renovables

Cuatrecasas has advised Schroders Greencoat—specialist manager of Schroders Capital, dedicated to renewable energy infrastructure—on acquiring 49% of a 400 MW wind and solar portfolio from Repsol Renovables. The assets are valued at €580 million.

Schroders Greencoat is one of the largest managers internationally of renewable energy infrastructure. It has a portfolio of eight wind farms (300 MW) in Huesca, Teruel and Zaragoza, and two photovoltaic plants (100 MW) in Palencia. This investment enables Schroders Greencoat to collaborate with Repsol and maximize the long-term value generation offered to its clients with high quality assets.

This is the largest transaction Schroders Greencoat has carried out in Spain so far, and is one of Repsol’s biggest asset rotation transactions. All assets are expected to be operational in the first half of this year. The transaction’s closing is subject to the purchaser's usual administrative procedures.

Corporate and M&A lawyer Mariano Ucar led the transaction’s advisory team alongside Luis Pérez de Ayala and said: “It has been a technically demanding transaction requiring great commitment from the whole team”. The advisory team was also formed by lawyers Sora Park Shin, Álvaro Vierna Arsuaga, Elena Ybancos San Juan, Xavier Oriach i Roqueta and Ana Giménez Ansó.