Spain > Projects and energy
Index of tables
Projects and energy
- Latham & Watkins LLP
Other recommended firms
Clifford Chance has been ‘very active lately’ and is ‘truly deserving of its position at the top of the market’. It acts for numerous financial institutions, with recent mandates including advising a syndicate of Spanish banks on the €664m financing of the consortium contracted to build a high-speed railway between Medina and Mecca. Endesa also instructed it to challenge two Ministry of Industry orders to set prices for electricity tariffs, and is assisting Iberdrola in challenging three provisional settlements approved by the Comisión Nacional de la Energía (CNE). The cross-departmental team includes banking and finance partner José Guardo and Juan José Lavilla, who is ‘one of the top regulatory experts in Spain’.
Cuatrecasas, Gonçalves Pereira’s chief strengths lie in project finance – where Rafael Mínguez and Fernando Bernad are the key partners – and energy, where the work is led by Luis Pérez de Ayala. The group’s ‘huge size means it is always active on significant deals’ and it has a ‘great reputation within the gas sector’. Highlights included advising La Caixa and Banesto on the financing of the construction and operation of a €262m waste treatment plant and additional facilities in Guipúzcoa. It also advised FCC Energía on Mitsui’s acquisition of a 50% stake in the client.
Garrigues ‘always brings sharp, efficient and creative solutions to the table’, and has a ‘good and long track record’ as ‘one of the best firms for project finance’. Highlights included advising a group of banks on the financing of a project to build the world’s first hybridised thermoelectric/biomass plant in Spain. It also advised Enagás on the segregation of its regulated activities in Spain, resulting in the creation of two subsidiary companies. José Miguel Pinillos has ‘extensive knowledge of all kinds of financing structures’, and is ‘always committed to getting the very best deal for his client’. Corporate head Javier Ybañez is also recommended.
Uría Menéndez has ‘in-depth knowledge and experience of project finance’, and ‘provides a high-quality service’. It has been advising JPMorgan Chase on the €164m financing of the construction of Amazonas 3 Hispasat satellite, and is advising a group of banks on the $43.5m financing of Naviera Esperanza’s acquisition of the Montesperanza, a vessel under construction. Practice co-heads Juan Ignacio González and Sebastián Sáenz de Santa María are recommended, as is Ángel Pérez López.
Allen & Overy is ‘very focused on energy’, and regularly advises companies such as Repsol and Acciona. Project finance, litigation and arbitration are also strengths of the practice, which recently represented the solar PV producers’ associations in arbitration against the Kingdom of Spain. Antonio Vázquez-Guillén, Ignacio Ruiz-Cámara, Juan Barona and Pablo Mayor are the names to note.
CMS displays ‘huge knowledge’. Iberdrola is one of the firm’s flagship clients and the team also recently gave Acciona regulatory advice as well as pre-litigation and litigation assistance. It also advised Red Eléctrica de España on the construction of a submarine power cable between Spain and the Balearic Islands. Félix Plasencia has ‘a wealth of experience’; Pablo Dorronsoro provides ‘highly technical, quality advice’ and is ‘always available’; and Javier Torre de Silva is also recommended.
DLA Piper LLP’s five-partner practice, led by Jesus Zapata, has ‘a strong presence in the energy market’. It has been advising NextEra Energy on the development of four 50MW solar thermal power plants in Spain. Other work examples include acting for Edison in ICC arbitration concerning a price review dispute with Eni, and advising Unión Fenosa on various aspects of its LNG plant in Egypt.
Gómez-Acebo & Pombo Abogados is ‘among the most prominent firms for energy law’. It recently assisted Oman Oil Company with its acquisition of 15% shares in REN, the Portuguese gas and electricity supplier, and is currently advising the shareholders on the creation of Sociedad Promotora Bilbao Gas HUB. Longstanding clients include Endesa, Sonatrach and T-Solar. Carlos Vázquez and Verónica Romaní are the key contacts.
Herbert Smith Freehills LLP is ‘a large firm with huge capacity’, but this Madrid-based team ‘has smooth client relationships more typical of a smaller firm’. It is defending the Spanish government in international arbitration with 25 investment funds over its new photovoltaic legislation; this is the first time a large European government has been sued over legislative changes. It is also advising Unión Fenosa on its 3G project, part of an integrated LNG project in Equatorial Guinea. Miguel Riaño and Ignacio Paz are recommended.
Jones Day is ‘very good at projects work’. It recently advised Grupo T-Solar Global as one of the sponsors of a $166m project financing of two photovoltaic power plants in Peru, totalling 44MW. It also assisted a group of Spanish banks with the financing of a $135m wind farm in Oklahoma, US. Banking partners Luis Muñoz and Richard Puttré are recommended.
Linklaters’ energy head José Giménez has ‘complete understanding of the sector and its infinite regulatory issues’, and does ‘superlative work, from the concept to the final output’. Head of projects Pedro de Rojas is also recommended. The firm is a key regulatory adviser to Iberdrola, Gas Natural and Engás, and has been advising BP Solar España on the sale and transfer of a 100% stake in Magaz Fotovoltaica to MR Rent-Investment.
‘Excellent in every way’, Araoz & Rueda is ‘always extremely quick to react’ and is ‘fully devoted to the client and the deals’. It recently advised Longsol on three renewable energy projects in France, and advised Renovatio on the acquisition of two solar energy parks in Ontario, Canada, with an aggregate power of 17.9MW. Francisco Solchaga is ‘remarkably business-oriented’, and has ‘deep knowledge and common sense’.
Ashurst LLP’s clients appreciate ‘the availability of senior partners’, and the fact that work is ‘always delivered as quickly as possible’. Recent mandates include advising a syndicate of international and national banks on Grupo San José’s PPP construction and maintenance of two hospitals in Chile, as well as on project financing. Gonzalo Jiménez-Blanco takes ‘a strategic view’, and has ‘the ability to see the overall picture’. Jose Christian Bertram is also recommended.
Baker & McKenzie recently advised Dresser-Rand on its acquisition of Basque Guascor Group; and Prodiel on selling to Grupo OPDE an SPV controlling a 4.3MW photovoltaic installation in Seville. It also acted for Brazil’s CPFL Energia on the acquisition of Jantus, a Spanish wind farm developer, from Liberty Mutual Insurance, Citi, Black River, and others. Luis Casals and Xavier Junquera are the key contacts in Madrid and Barcelona, respectively.
Lupicinio Abogados International Attorneys has been assisting Ineco with its establishment in Kuwait, including advising on the construction of a new terminal at Kuwait International Airport, and is advising Isolux on a renewable energy project in Kenya. Other clients include Colombian Mineral Resources, which the team advised on the purchase of an oil company based in Cyprus and its subsequent flotation on the London Stock Exchange. Luis Manuel García and José Maria Viñals are recommended.
Perez-Llorca’s highlights included advising Ence on all aspects of a new 20MW biomass plant in Mérida, Spain, and representing various photovoltaic plant owners in litigation arising from cuts to renewable energy tariffs. ACS instructed the group to act on its acquisition of a 50MW solar thermal plant. José Ramón de Hoces, Fausto Romero-Miura and Juan Rodríguez Cárcamo are recommended.
Bird & Bird has ‘broad expertise in energy and M&A’. Hermenegildo Altozano brought over a team from Hogan Lovells International LLP in 2011, and has made an excellent impression in the market. Key clients include Enagás.
Broseta Abogados’ clients include Proasego Solar, a holding company that owns three photovoltaic plants, and Concesiones Aeroportuarias, owner of Castellón-Costa Azahar Airport, a €150m investment which is still a work in progress. It also acts for Gamesa and Blue Energy Investments, among others. Valencia-based Rosa Vidal heads the department, and Jesús Avezuela is among the key contacts in Madrid.
Freshfields Bruckhaus Deringer regularly advises E.ON, Repsol, Gas Natural and Total. It recently advised HSH Nordbank on regulatory matters relating to several solar photovoltaic projects. The multidisciplinary practice includes antitrust and regulatory expert Álvaro Iza and corporate and capital markets partner Armando Albarrán.
Latham & Watkins LLP’s Antonio Morales has ‘profound knowledge’ and ‘a simple and direct manner’. Highlights included acting for Gas Natural in a contentious matter concerning the assignment of CO2 rights in Spain.
Gonzalo Olivera leads SJ Berwin’s three-partner team, which counts RREEF and EDP among its key clients. The firm has been advising on a number of M&A transactions, including cross-border matters.