Cross-border support for 800MW PV deal

 

Eversheds Sutherland advised Quercus on its acquisition of a 800MW solar portfolio

A cross-border team from Eversheds Sutherland has advised Quercus Real Assets Limited (Quercus) on its acquisitions of a portfolio of solar PV development projects in Spain.

Quercus, a London-based investor focusing on Energy Transition assets, through its Luxembourg affiliate has acquired a substantial portfolio of PV development projects. The portfolio will have an operational capacity of roughly 800MW, across sites in Spain. The first assets will be ready to build at the end of Q3 2021, with assets becoming operational 12 months later.  

An international team from Eversheds Sutherland’s Clean Energy and Sustainability group advised Quercus on all aspects of the acquisition. Michelle T Davies, International Head of Climate Change and Sustainability; Carlos Pemán, Partner, Corporate; and Marta Vizcaino Martin, Counsel, Energy; advised on the transaction, providing, among others, corporate, M&A and regulatory advice across multiple jurisdictions including the UK, Luxembourg and Spain.

Michelle T Davies, commented:

“We are delighted to have helped Quercus with this important investment.  We helped Quercus create a framework for what was a large and in places complex series of transactions and then assisted with implementing this.  Many congratulations to the Quercus team!”

Asif Rafique, Managing Director (Investments), Quercus, said:

“Completing this Spanish transaction was a critical step in delivering Quercus’s growth plan, following the exit of our €1bn fund platform in 2019.  This represents one of a number of Southern European development initiatives we are working on and Eversheds Sutherland were instrumental in helping us get this over the line”.