Evergreen Legal advised Opdenergy on the deal.
Opdenergy completed the acquisition, from the European infrastructure fund, Marguerite II, of 80% of three photovoltaic solar plants. With this transaction, Opdenergy becomes the 100% owner of the plants and increases the installed aggregated capacity to 261 MW in Spain and to 468 MW globally.
These three plants have an installed aggregated capacity of 150 MW (50 MW each). La Fernandina plant is located in Mérida (Badajoz) and has a total surface of c. 110 hectares; the Miramundo plant is located in Puerto Real (Cádiz) and has a total surface of 120 hectares; and the Zafra plant is located in Alcalá de Guadaira (Sevilla) and has a total surface of 130 hectares.
Opdenergy acted as issuer of new senior notes arranged with EIG Global Energy up to a principal amount of up to €140 million and listed on the Frankfurt Stock Exchange, with a first issuance of €114.5 million that has been used to partially finance the aforesaid acquisition of the three PV plants, as well as the redemption of c. €70 million outstanding corporate bonds issued in Euro and U.S. dollar.
Evergreen team was led by M&A partner Ignacio Freire (Picture), assisted by senior associate Luis Vegas, and Banking & Finance partner Alberto Campo, assisted by of counsel Yurena Medina.
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