Clifford Chance‘s energy department has an impressive reputation in the field, with ‘perfect command’ of complex regulatory, corporate and M&A, global financial markets and dispute resolution work, complemented by a ‘very reliable knowledge of the industry’ and a ‘very fine understanding’ of issues in the field. Such matters encompass administrative procedures, financing and market-defining acquisitions, with transactions and greenfield projects in the clean hydrogen and hydrogen transport sectors representing growing areas of work for the team, which is co-led by Jaime Almenar and José Guardo, active in dispute resolution and global financial markets matters, respectively. Also noted are regulatory specialist José Luis Zamarro and the recently promoted Eugenio Fernández-Rico, an expert in energy transactions. Regulatory efforts are backed by Clara Alcaraz, a key figure from the senior associate ranks.
Projects and energy in Spain
Other key lawyers:
‘It is a well-prepared team with an excellent technical level. It fully understands the business.’
‘Its particular knowledge of the business and excellent legal advice. They perfectly understand the sensitivity of the client.’
‘The Clifford Chance team has a perfect command of the subject and also puts at the client’s disposal tools and documents that greatly facilitate the work and the successful outcome of the operation.’
‘The Clifford Chance team have extensive experience structuring transactions of all kinds and always provide prompt and excellent support.’
‘Eduardo Sánchez is one of the best lawyers both in the field of structured financing with project and PPA negotiation. Alejandro Cubillo also provides excellent treatment and support with great attention to detail and practical solutions to get transactions closed in a timely manner.’
‘Very reliable knowledge of the industry, very fine understanding of the complex integrated green hydrogen system, creativity regarding the design of legal and financial solutions.’
‘Its qualities are an ability to listen to the needs of all stakeholders and to design adapted solutions.’
‘Eduardo Sanchez stands out enormously by combining great commercial capacity and negotiating skills with solid technical knowledge and a high degree of involvement. He has great leadership skills. Gabriel Miranda has great technical knowledge and know-how. Jose Guardo contributes a lot of value and lets his great team shine. Its great reputation is well deserved.’
China Three Gorges
Galp Energia Group
Atlas Renewable Energy
- Advising Hydeal Asturias on a project consisting of the construction and operation of a full-value-chain green hydrogen project, comprising generation, transportation and supply.
- Advising Iberdrola on highly strategic regulatory issues as members of the exclusive group of its regulation committee.
- Advising Mubadala on the sale, jointly with Trafigura, of Matsa.
Active across Spain and Latin America, Cuatrecasas divides its market-leading expertise into energy and infrastructure projects, demonstrating significant expertise in photovoltaic energy and wind farms as well as transport infrastructure mandates. Finance specialist Íñigo Rubio and administrative and regulatory law expert Luis Pérez De Ayala lead the practice from Madrid, accompanied at the helm by Beatriz Causapé, who works out of the firm’s Barcelona office. Focusing on major corporate and project finance transactions, Héctor Bros is another name to note, working alongside counsel Félix Plasencia Sanchez, an addition from EY Abogados in November 2021. Agustín Cerdá is a key contact for finance issues, with Alejandro Bonitch, promoted to partner in April 2022, also recommended.
Fotowatio Renewable Ventures
- Advising Vinci on acquiring Cobra Servicios, Comunicaciones y Energía, the parent company of ACS Group’s industrial division, valued at €4.9bn.
- Advising Autopista Terrasa-Manresa on a waiver process for monetising an inflation derivative.
Garrigues‘ energy and project finance practice remains a leader in the market, characterised by its ability to handle ‘large transactions efficiently’ and a deep specialisation in greenfield financing mandates in the renewable energy space, as well as concessions, public procurement processes and real estate asset acquisitions. Mónica Martín De Vidales and Àlvaro López-Jorrín lead the team, which sees work with Spanish sponsors and financial institutions surrounding the preparation and execution of international project finance deals as a key recent area of growth. The sizeable team also features Silvestre Arana, with a wealth of expertise in energy matters, corporate expert Marcos Botella, and structured finance specialist Jon Goirigolzarri. Overarching efforts are supported by G-advisory, the firm’s technical consulting arm.
Other key lawyers:
‘Experience, people skills, a team with a lot of experience in this field, they do many transactions in the sector and it is noted for the experience gained and solutions to problems.’
‘Gonzalo Valencia, excellent partner, transaction oriented and capable of providing solutions to the problems that arise in the deals.’
‘Garrigues can handle large transactions efficiently and in short time frames.’
‘Luis Enrique Mata has a good eye for the big picture but also manages to keep the contract details in mind. He is very thorough and always delivers.’
Banco de Sabadell
R Green Invest
- Advised a group of 12 lenders on Sandfire Resources’ acquisition from Trafigura and Mubadala Investment Company of 100% of Minas de Aguas Teñidas $1.86 bn.
- Advised Helia Renovables on the sale to Northland Power of the whole portfolio (except two mini-hydro plants) of renewable energy operating assets.
- Advised Verbund on the acquisition from Q-Energy of 82MW of operating renewable energy projects and circa 4,500MW of greenfield renewable energy projects.
The ‘extraordinary‘ energy, infrastructure and project finance group at Gómez-Acebo & Pombo features a renowned team, which ‘anticipates problems’ and is regularly engaged in regulatory matters, corporate governance, and debt and M&A transactions. ‘The business vision, negotiation skills as well as vast knowledge of sales agreements‘ is another ‘differential‘ factor for the practice, which is co-led by ‘benchmark‘ partner Verónica Romaní and Carlos Vázquez, who garners praise for his regulatory experience. Other standout practitioners include Santiago Garrido, who joined from Hogan Lovells US LLP in January 2022 to bolster the firm’s public law offering; sharing a similar focus, Borja Carvajal joined the same month from KPMG Abogados, Spain, accompanied by Pedro Soto, joining from the same firm. Senior associate Helena Villena constituted another key arrival in January 2022, coming from Hogan Lovells International LLP.
Other key lawyers:
‘The team is executive. It anticipates problems and looks for solutions.’
‘Verónica Romaní and Carlos Vázquez make closings and negotiations easy because they know the market, they know the sector and they have a lot of experience, which gives the client a lot of peace of mind.’
‘They are very accessible and are always quick in their responses. They know how to be extraordinary. It is a pleasure to deal with them.’
‘The team is differential in the field of energy in Spain. The business vision, negotiation skills as well as vast knowledge of sales agreements and partner agreements allow the external lawyer to position himself commercially, and thus complement the mitigation of legal risks with merely commercial ones, giving a vision of a unrivaled market experience.’
‘In addition to solid training and an important track record, they have leadership figures in values and knowledge that favour the development of the most junior members of the teams.’
‘Verónica Romaní and Pablo Fernández Cortijo are benchmark partners in the market, particularly in the renewable energy sector. Additionally, Andrés Castro is worthy of mention due to his level of commitment and excellence in deliveries.’
Cubico Sustainable Investments
Abei Energy Group
Sun European Investments
Compañía Española de Petróleos
Aquila Clean Energy
Eni Comercializadora de Gas
Cubico Sustainable Investments
Crédit Mutuel CIC
Canadian Solar Holding Latam
Crédit Agricole Assurances
- Advised Meridiam Investments on the acquisition and refinancing of eight infrastructure concessions from Acciona.
- Advised Q-Energy in more than 20 M&A deals, with different sellers and different types of assets, with aggregate value above €1bn.
- Advised the shareholders of Dhamma Energy on the sale of the overall platform to Eni gas e luce, a subsidiary of Eni SpA.
Herbert Smith Freehills LLP
Herbert Smith Freehills LLP houses an energy and infrastructure team with ‘unbeatable‘ knowledge of the sector, which is supplemented by experience in various stages of a project’s life cycle; M&A, project development, financing, dispute resolution, regulatory, environment and planning are among its key areas of expertise. The team features several highly regarded practitioners in the field, with Ignacio Paz, active in M&A, PPPs and financings standing at the helm, and Miguel Riaño backing these efforts closely. Also noted are regulatory expert Iria Calviño and senior associate Beatriz Plaza, who has experience acting for banks, industrial clients and investment funds in renewable energy transactions. Recently, the firm has seen an uptick in green hydrogen and offshore wind energy matters.
‘The strengths are the closeness of the team and the very detailed knowledge of the energy sector.’
‘One of the most important and essential points is the relationship and influence with the main companies in the sector, facilitating a very open, flexible and trustworthy collaboration that ensures the success of operations and facilitates the creation of new opportunities.’
‘Ignacio Paz creates a very open and close collaboration environment with many companies in the sector, helping to develop a relationship with the relevant managers in each company. This adds a lot of value in supporting the entry of a company in a sector and creating a bond of trust that helps expansion and growth.’
Cobre Las Cruces
- Advised Acciona and Plug Power on their joint venture to establish a green hydrogen platform for the Iberian Peninsula that will serve clients in Spain and Portugal.
- Represented Q-Energy on the acquisition of a 15MW photovoltaic plants portfolio in operation from Renertia.
- Advised Engie, together with Crédit Agricole Assurances, on the acquisition of up to 100% of the share capital of Eolia Renovables from Alberta Investment Management Corporation.
The ‘exceptional energy practice‘ at Linklaters is sought out for its standalone regulatory advice as well as its transactional expertise, encompassing M&A, capital markets, banking, projects and litigation. Experienced public law expert José Giménez and counsel Roberto Sánchez head the practice alongside Lara Hemzaoui, who is focused on corporate issues and offers ‘great technical quality‘. The team plays a key role in some of the market’s largest transactions, which include M&A and financing arrangements, an area where managing associate Jorge Toral is also noted as he acts on a range of national and cross-border deals in the space.
Other key lawyers:
Jorge Toral; Mario García
‘Linklaters has an exceptional energy practice team in both M&A and regulatory. One aspect that differentiates Linklaters from other firms is its commercial vision and quick response; both essential aspects to close operations.’
‘Dedication, experience and above all the ability to support business negotiations.’
‘José Giménez and Roberto Sánchez are the best lawyers in this practice area in Spain.’
‘The most remarkable thing is that, although it is a team that advises on all branches of public law and energy, when dealing with any issue with them it always seems that one is receiving advice from a specialist team, almost a boutique for each subject. The team is always up to date with current issues and regulatory details.’
‘In size and variety of issues that can be dealt with, they are perfectly at the level of the best national law firms. Special mention to Mario García on public law issues; and Jorge Toral.’
‘The quality of the work and their dedication. In addition, many are relatively young lawyers, which makes them stand out in the market. They continue to expand the team and attract talent.’
‘Great team dedicated to client needs.’
‘Lara Hemzaoui and Celso Méndez are always available and with great technical quality.’
Watson Farley & Williams LLP‘s energy department is a popular choice among leading investment funds, sponsors, financial institutions, banks, energy companies, developers and construction companies for its ‘its practical approach and extensive knowledge of the sector and the developments that affect it’. Led by María Pilar García Guijarro, the team is particularly well regarded for its expertise in the structuring and negotiation of transactions for the acquisition of large portfolios of greenfield projects and the financing of renewable projects. Finance specialist Rodrigo Berasategui supports these efforts, working alongside David Diez, a regulatory law expert. Key changes to the team include the arrival of Victoria Truchuelo from Allen & Overy and senior associate Ignacio Soria from Gómez-Acebo & Pombo.
‘Its practical approach and extensive knowledge of the sector and the developments that affect it.’
‘In the area it is essential to be up to date with the news that affects the sector with immediacy and detail. In this sense, no firm knows the renewable energy sector like them, given their proactive participation in it.’
Cerberus Capital Management
Helios Energy Investment
Noy Infrastructure & Energy Investment Fund
Octopus Renewables Infrastructure Trust
Ontario Pension Trust
- Advised Caisse de dépôt et placement du Québec on its acquisition from Q-Energy group of a large-scale photovoltaic brownfield operating portfolio.
- Advised Vortex Energy on its acquisition of up to a 49% stake in Ignis Energy Holdings, which has a portfolio of 14GW renewable energy projects under development in Spain.
- Advised Copenhagen Infrastructure Partners (CIP) in relation to a portfolio of renewable wind assets under development with an aggregate capacity of 1,130 MW.
The ‘benchmark‘ projects and energy department at Allen & Overy places significant attention on transactions in the space, with a ‘pragmatic approach‘ that allows it to excel in project finance as well as M&A and litigation. The six-partner leadership team in Madrid features the ‘outstanding‘ Charles Poole-Warren, who acts in financing transactions for infrastructure, energy and renewable assets; Vanessa Cuellas, a key contact for sponsors and borrowers seeking advice on the development, acquisition and financing of energy and infrastructure assets; public law expert Pablo Mayor; Ignacio Ruiz-Cámara; Ignacio Hornedo; and skilled litigator Antonio Vázquez-Guillén. Promoted to partner in May 2022, Thomas Wilkinson is also recommended, alongside associate Nuria Ferré.
‘It is a very powerful team. They stand out for their professionalism, team cohesion and availability.’
‘Professionalism and availability from Vanessa Cuellas and Nuria Ferre.’
‘It is an area of law in constant innovation that requires lawyers to be up to date with the latest trends. In this sense, Allen & Overy is a benchmark in the sector; its creative solutions on certain projects have become a standard in energy practice.’
‘Allen & Overy is characterised by offering innovative solutions to all kinds of problems that arise in the execution of projects. The attorneys at Allen & Overy have in-depth financial and regulatory knowledge, which is key in this area.’
‘It is remarkable that its lawyers work diligently, proactively and rigorously. Outstanding partners include Charles Poole-Warren, Antonio Vázquez-Guillén and Vanesa Cuellas.’
‘Dedication to the client and knowledge of the sector.’
‘Pragmatic approach and international relations.’
Celeo Concesiones e Inversiones
- Advised the board of directors of Siemens Gamesa in relation to the voluntary takeover bid launched by its majority shareholder Siemens Energy.
- Advised Banco Santander on the financing of EQT’s takeover bid for Solarpack.
- Advised BNP Paribas, CaixaBank and Banco Santander as the mandated lead arrangers and a syndicate of banks in respect of debt financing and guarantee facilities for IFM’s public takeover offer for 22.69% of shares in Naturgy Energy Group.
Ashurst LLP‘s energy, natural resources and infrastructure practice provides advice for an array of leading renewables, oil and gas, and LNG companies, with key areas of work including project financing, public procurement, regulatory, corporate and litigation matters. The team, which has ‘great knowledge of the industry‘, is co-led by Andrés Alfonso and José Christian Bertram, who offer expertise in a broad range of issues across the full project life cycle. Senior associate and public law specialist Soledad Adell is another key name to note. In November 2021, Manuel López left the firm, with Pablo García Manzano departing the following month.
Other key lawyers:
‘Great knowledge of the industry and a good team with an active presence in knowledge dissemination actions.’
DIF Capital Partners
Galp New Energies
Cobra Instalaciones y Servicios
Sener Ingeniería y Sistemas
MEAG Munich Ergo Asset Management
- Advised Hy24 on its investment (30%) in a joint venture company with Enagás (70%).
- Advised Meag Munich Ergo Asset Management on the acquisition financing of a renewables portfolio composed of seven wind parks.
- Advised STECC on its investment in CargaTuCoche, a Spanish company involved in charging points for e-vehicles.
Bird & Bird‘s ‘highly qualified‘ energy and infrastructure department combines regulatory knowledge with notable involvement in transactions, with M&A and project financing making up key areas of work for the firm. Coral Yáñez, an experienced litigator and regulatory specialist, is the main point of contact in the team. Former co-heads Hermenegildo Altozano and Alfonso Bayona left the firm in February 2023.
‘Very active in the energy sector, both in operations and litigation.’
‘The Bird & Bird team is highly qualified to advise in the energy area. Their help provides a high added value to all the projects developed with them.’
‘Predisposition and absolute dedication to the projects.’
‘The team is always available and they adapt their agenda to client needs. They are always available to provide new options and solutions to problems that arise, as well as presenting interesting and original protections against emerging risks.’
‘They are very willing to help with anything that is useful in the progress of operations, always proposing new ways to move forward.’
Pioneer Point Partners
Sabic Innovative Plastics España
Alternus Energy Group
Iberdrola Ingenieria Nuclear
Bas Projects Corporation
- Advising Pontegadea on its acquisition from Repsol Renovables of 49% of eight Delta wind farm SPVs.
- Advised Naturgy Renovables on the bidding process for the acquisition of Aimco.
- Advising Iberdrola Ingeniería Nuclear and Naturgy Generación on the sale of its participation in Tecnatom.
CMS Albiñana y Suárez de Lezo is home to a broad energy offering, with the ‘cohesive multidisciplinary team‘ specialised in the cross-border corporate, finance and regulatory aspects of energy projects. The department's ‘great knowledge of the sector‘ extends to contentious proceedings, power purchase agreements as well as the acquisition of renewable asset portfolios. Managing partner César Albiñana, corporate specialist Luis Miguel de Dios and Ignacio Grangel head the practice, with Grangel noted for his ‘market-leading insights‘, which make him a ‘differential‘ factor in the field. Counsel José Luis Pérez-Campoamor is another standout in the team.
Other key lawyers:
‘CMS forms a very cohesive multidisciplinary team, with great knowledge, ability to adapt and resolve conflicts. One of the cornerstones of this business is regulation and social management. They have established the necessary contacts to be able to offer the services that are required of them, professional collaborations with the appropriate companies, diversity of academic and work training, keeping their clients up to date with all the news.’
‘Their great knowledge of the sector, professionalism and personalised treatment, as well as their reliability, involvement, efficiency, speed and safety. It is a very cohesive team and they represent all the above characteristics. It is the only office that brings together all these characteristics together, in addition to its good work, always with ethics and responsibility.’
‘Market-leading insights into energy sector regulation, deep industry experience, proactive client relationship management, star Ignacio Grangel.’
‘Ignacio Grangel is a well informed, insightful energy lawyer and also very focused on finding solutions to all regulatory and corporate law challenges. Ignacio is always able to drive to workable, robust solutions quickly and efficiently.’
‘CMS’s knowledge of the regulated market is a differential. For their relationship with many areas within the energy world and knowledge of the casuistry for the different technologies, as well as for their knowledge of the regulatory field. Specifically, the experience and knowledge of the functioning and dynamics of the main agents (Ministry, supervisory bodies, etc).’
‘The experience of Ignacio Grangel, as a State attorney and having been involved in defining the regulation, is a differential. In addition, his interest and knowledge of technical aspects of the energy world makes his way of posing challenges the most effective.’
CEE Alternative Investment
Villar Mir Energía
EEW Eco Energy World
- Advised Siemens Gamesa on the sale of a major portfolio of wind farms located in Spain, France, Italy and Greece, with a total capacity of 3.46GW to SSE Renewables, worth €580m.
- Advised Spanish energy company Nexus Energía on the entry of the Japanese group Sojitz into its shareholding.
- Advised Iberdrola Renovables on appeals challenging the decisions of the Júcar River Basin Authority, concerning the hydroelectric power exploitation fee, free energy and compensation for energy reserved for the State for hydroelectric installations.
The energy group at DLA Piper is recognised for its ‘exceptional‘ work on corporate and M&A, regulatory, finance, antitrust and real estate matters in the space, with a client portfolio made up of significant Spanish and foreign institutions, investment funds, banks, insurance companies, issuers, borrowers and sponsors. Javier Santos and César Herrero co-head the team, with extensive experience in project finance. José Manuel Sala is another key figure, with ‘deep knowledge‘ and a ‘very practical procedural vision‘, especially when advising on judicial review proceedings. Recent developments include the addition of José María Barrios, joining from Deloitte Legal in January 2023.
Other key lawyers:
José Manuel Sala; Juan Gelabert Chasco; José María Barrios
‘DLA Piper has always been exceptional, both in the way of working, the way of invoicing and flexibility, etc.’
‘Good position in the sector.’
‘Solid team, passionate about their work.’
Cube Infrastructure Fund
Banco Estado de Chile
- Advising Aquila Capital on the acquisition of several large Spanish PV portfolios, the sale of PV plants as well as project financings.
- Advised Shell on the auction process for the acquisition of a 2.5GW Spanish portfolio formed by 45PV plants and wind farms.
- Advised the lenders on Spanish law issues in relation the financing provided to Sociedad Concesionaria Ruta de la Fruta for the works to be carried out in Route 66 in Chile, with Sacyr acting as sponsor.
Boutique firm MVA ASOCIADOS showcases a significant focus on the energy and natural resources sector, as ‘members of the team complement each other to provide rigorous and detailed legal advice‘ in relation to regulatory, corporate, competition, litigation, project management and financing aspects. Javier Montalvo leads the practice alongside seasoned practitioner Gervasio Martínez-Villaseñor, praised by clients for his ‘in-depth knowledge of energy law and huge expertise’. The team, which ‘stands out for its knowledge of the sector and its regulations‘, also features Gonzalo Rubio.
Other key lawyers:
Gonzalo Rubio; Eduardo Abril
‘The members of the team complement each other to provide rigorous and detailed legal advice. They understand the sector and key challenges quickly and provide fast responses.’
‘Gervasio Martínez-Villaseñor has in-depth knowledge of energy law, and huge expertise. It is impressive how quickly he understands risks associated with negotiations and how he managed these risks.’
‘Very available and participative partners. Their experience in the sector means that they do not miss anything. Well prepared and efficient teams.’
Red Eléctrica de España
Hanwha Energy Corporation Europe
Naturgy Energy Group
Monbake Grupo Empresarial
Global Cleantech Fund
Planta de Regasificación de Sagunto
Asociación Española del Gas
- Advising Repsol on a regular basis on all legal disciplines of interest (corporate, M&A, project development, contracts, regulatory, public law, litigation) in its power and renewables business unit.
- Advising Hanwha Energy on corporate, real estate, regulatory and public law matters with respect to the development activities and permitting process of 1,000MW solar PV projects.
- Advising EDP Group on corporate, M&A, project development, contracts, regulatory, public law and litigation in its different business units.
Pérez-Llorca‘s project finance and energy offering, which sits within the firm’s public law and corporate teams, regularly provides high-quality advice in the context of regulatory, litigation, transactional and project finance matters. Licensing and permits, infrastructure projects and the establishment of SPVs are part of this package. Leadership of the team is divided between project finance expert Mónica de San Román, regulatory specialist Ana Cremades and Javier Carvajal, noted for corporate issues. Associate Belén Wert is also recommended.
Other key lawyers:
Trilantic Capital Partners
Cepsa Comercial Petróleo
Banco de Sabadell
- Advised CVC in relation to its 20% stake in Naturgy and the partial takeover bid for this company for an amount of €2.35bn.
- Advised Sonnedix on all Spanish law aspects of the acquisition of a 100MW photovoltaic operational portfolio from ACS Servicios Comunicaciones y Energía.
- Advised Finerge on a financing granted by Totta Ireland, Bankinter, MUFG Bank and BBVA to a special purpose vehicle owned by Finerge for an amount of €150m.
Regarded by clients as ‘one of the most consolidated teams in the projects and energy sector‘, Uría Menéndez showcases impressive talent in financial and corporate transactions, acting as a key point of contact for lenders, borrowers and leading energy companies. Led by Juan Ignacio González Ruiz, with ‘exceptional knowledge of the energy sector and its regulation‘, the team offers capabilities in M&A, project finance and PPAs. Ignacio Álvarez Couso and José Félix Zaldívar de la Rica, the latter of whom heads the firm’s New York office and is noted as ‘brilliant, tenacious and very agile‘, are additional key contacts.
‘Uría Menéndez has one of the most consolidated teams in the projects and energy sector. They offer support and accompaniment in all phases, from M&A, project contract negotiation (EPC, O&M, PPAs, etc.), financing, to regulatory and day-to-day issues.’
‘As a whole it is a solid, balanced and complete team, with a high level of availability and very competent when dealing with any situation that arises.’
‘Juan Ignacio González demonstrates exceptional knowledge of the energy sector and its regulation. José-Félix Zaldívar is a brilliant, tenacious and very agile lawyer when it comes to providing solutions. He is also directly involved in matters and has a level of availability above the average of other partners in similar firms.’
‘The team has in-depth knowledge of very specific matters, which are sometimes unique projects. They are permanently up-to-date with new developments, practices, jurisprudential and arbitration interpretations. Its flexibility, adaptability and availability is maximum.’
‘At all times they are in a position to provide solutions or alternatives in the negotiation and in the defense of the client’s interests, always going one step ahead. They are essential in certain matters that require specific experience.’
Banco Bilbao Vizcaya Argentaria
China Three Gorges
Global Infrastructure Partners
Grupotec Servicios Avanzados
The Renewables Infrastructure Group
The energy and natural resources department at Deloitte Legal combines ‘great knowledge of the regulatory environment of the energy sector‘ with ‘an ability to target client needs in a very proactive way‘. Led by María Guinot, a renowned expert considered a ‘national legal reference in the energy market‘, the team is active in transactions as well as complex litigation procedures, with Ignacio Echenagusia also noted as a key contact. In January 2023, José María Barrios departed the firm to join DLA Piper.
Other key lawyers:
Ignacio Echenagusia; Ignacio Alonso; Beatriz Cabeza; Carlos Tallón; David Porras
‘They have practical knowledge and an ability to target client needs in a very proactive way. María Guinot and José Barrios always create a very friendly atmosphere that makes it easy to work with them. María Guinot is called to be the national legal reference in the energy market.’
‘Cohesive team, with an interdisciplinary profile, diversity of professional experiences, studies and contributions. Great capacity for response and work. Availability. Quality and attention to detail. Effective interpersonal relationships. Human quality, emotional intelligence. Constant innovation.’
‘They have improved significantly with the incorporation of María Guinot as head of the area. Her experience as a state attorney strengthens the practice.’
‘Team unity, trust between them, responsiveness, great balance of technical knowledge and interpersonal skills. Responsibility and accountability.’
‘It is a close team, very involved with the client and with a very appropriate treatment. Technically, the collaboration is highly appreciated, especially the lawyers Ignacio Echenagusia and Ignacio Alonso. In addition to having the feeling of total technical solvency, we add the character of flexibility and proximity to the client.’
‘María Guinot has experience and technical quality in the sector that is difficult to match and is surrounded by a team of magnificent senior professionals with great technical capacity and knowledge of the sector. Carlos Tallón is a fundamental piece of the team always guaranteeing quality service, full availability and great proactivity and empathy, together with an unbeatable treatment. Very experienced both in regulatory matters and in the transactional field. David Porras and Beatriz Cabeza demonstrate a very remarkable technical capacity and knowledge of the sector.’
‘The Deloitte team brings a great knowledge of the regulatory environment of the energy sector, together with a great technical capacity, availability and proactivity. Especially noteworthy is the possibility they offer of being able to channel legal and technical services through their firm, which is within the reach of very few national and international law firms.’
‘María Guinot guarantees a quality service, with perfect team management and technical brilliance. Carlos Tallón is always available, offering creative solutions to problems that arise and with a very remarkable knowledge of regulation and the electricity market. Its team is a guarantee of quality service and is made up of professionals with great technical capacity and the ability to adapt and react to any situation.’
Enel Green Power España
I-De Redes Eléctricas Inteligentes
Conoco Phillips Marketing and Trading
Enel Green Power
- Advised Kobus Partners on the refinancing of all the debt related to its renewable portfolio by means of a hybrid financing involving both bonds and project debt.
- Advised Solaer Group regarding the financing by Banco Cooperativo Español for the construction of two photovoltaic installations in Spain totaling 36MW of peak capacity.
- Advised Enel Green Power on the potential acquisition of a private holding company owned by Siemens Gamesa Renewable Energy, owning 73 greenfield wind farm projects.
With a presence in Madrid and Barcelona, DWF-RCD‘s energy team showcases expertise in a wide range of issues, including M&A, regulatory, administrative proceedings and litigation, tax and project finance. Barcelona-based partner Javier Olmos shares leadership of the practice with Federico Belausteguigoitia in Madrid, who is noted for his ‘excellence in commercial law‘. Also noted is Sara Rafecas, with the practice active in the implementation of power purchase agreements between project promoters, off-taker finalists and financial entities.
Other key lawyers:
‘Great involvement in solving client problems and facilitating different legal strategies to follow.’
‘High work capacity, outstanding level of quality.’
‘Federico Belausteguigoitia showcases excellence in commercial law. Great work capacity.’
The energy practice at Jones Day offers ‘deep knowledge of the sector, with a lot of experience‘ in cross-border mandates surrounding renewable energy projects, with particular emphasis on financial, regulatory and litigation work. The leadership team is comprised of regulatory expert Raimundo Ortega, project finance specialist Javier López Antón, seasoned litigator Mercedes Fernández and Fernando Lillo, a key contact for structured finance. Sergio Cires, who was recently promoted to of counsel, is another notable practitioner, active in acquisition finance involving PPPs.
Other key lawyers:
‘The energy sector in Spain is at a point of great activity and regulatory changes that make it necessary to be constantly updated. What makes the work of Jones Day special is anticipating these queries.’
‘Knowledge and experience in the regulation of the sector. Specifically Raimundo Ortega.’
‘The team has a high knowledge of regulation and market practice, always willing to seek solutions, protecting the interests of the client and knowing how to differentiate what is important from what is superfluous.’
‘Very committed and with a high technical quality. Especially Javier López Antón and Sergio Cires.’
‘Availability, quick response, practical approach, management skills and negotiating positions with clients, clear conclusions, personalised treatment.’
‘Sergio Cires offers a degree of personal closeness that complements his professional skills.’
‘They have a very deep knowledge of the sector, with a lot of experience and capable of covering all the questions that arise in the development of a renewable project, which is very multidisciplinary.’
‘They stand out above all for the closeness and personalised attention. It works in Spain as a true boutique despite being a worldwide firm.’
Banco de Sabadell
Iridium Concesiones de Infraestructuras
- Advised Iridium Concesiones de Infraestructuras on the €58m sale of its 80% interest in Nuevo Hospital de Toledo to BSIP Spain HoldCo.
King & Wood Mallesons
The ‘highly qualified multidisciplinary team‘ at King & Wood Mallesons demonstrates extensive knowledge of the energy sector and as such is retained by financial investors, equipment manufacturers, project developers, constructors and regulatory authorities to provide advice on M&A transactions, regulatory and project finance matters. At the forefront of these efforts is Gonzalo Olivera, an energy and infrastructure specialist, backed by Roberto Pomares and senior associate Alberto Artés, who is noted for his ability to ‘explain any case in a didactic and practical way‘.
‘KWM works as a team and members have detailed knowledge. The entire team is very involved and very knowledgeable about the issues. Besides that they all have a great experience behind them.’
‘Alberto Artés has extensive knowledge of the sector and knows how to explain any case in a didactic and practical way. He explains the details, consequences and possible solutions in a clear, transparent and understandable way.’
‘360 view of contracts. They have a very commercial view of contracts and offer detailed advice.’
EDP Enegias de Portugal
First Sentier Investors
GreenVolt Energias Renováveis
Sonae / Capwatt
AR Activos en Renta
- Advised EDPR Renováveis on the sale of a 181MW wind portfolio to China Three Gorges.
- Advised Mapfre on its strategic alliance with Iberdrola for the incorporation of a joint venture aimed at the investment in renewable energy projects.
- Advised Activos en Renta Energía on the sale of four solar PV projects located in Spain to NGC Partners.
Praised by a client for its ‘experience, high knowledge, dedication and effort‘, the energy group at Baker McKenzie is often sought for multi-jurisdictional matters, drawing from a network of international offices to advise on litigation, M&A and regulatory matters. Antonio Morales steers these efforts with ‘unbeatable knowledge of the energy sector in Spain‘, accompanied by Juanjo Corral, who adds ‘commercial and practical vision‘ to the firm’s expertise. Associate Manuel Somacarrera is a further name to note.
‘The Baker McKenzie projects and energy team shows high involvement and availability throughout long and complex projects. At all times they have made their skills available to the in-house lawyers, working as a single team, with a very practical vision and aimed at closing the transaction.’
‘Juanjo Corral has a very commercial and practical vision; has been an invaluable support in negotiating. Manuel Somacarrera demonstrates solid knowledge of the regulations applicable to the energy sector and has been a key player.’
‘The Baker McKenzie team demonstrates in all its work its experience, high knowledge, dedication and effort. It is always a reference. Coordination with its offices in other countries has been a key factor in its work. An excellent teamwork where all its interlocutors are coordinated. A large international firm, without losing direct and close contact with its clients.’
Naturgy Energy Group
Westinghouse Electric Company
Dentons‘ energy offering is rooted in its extensive knowledge of cross-border transactions and projects in renewable energy, where it demonstrates ‘solid knowledge and experience‘. Fermín Garbayo, who shows an ‘outstanding ability to manage the issues that arise‘ in the space, heads the practice since his arrival from Gómez-Acebo & Pombo in April 2021, which sees companies in the utilities, oil, LNG exploration and production, infrastructure and renewable energy sectors as key clients. Backing these efforts are senior counsel Luis Gil, who joined in June 2022, and associate Almudena Gurpegui.
‘Technically they are very good. They are always available. If you have any issue or doubt, they always help.’
‘Experience in authorisation processes and legal due diligence are just the starting point. They have the ability to support commercial negotiations and also banking and financial aspects of complex transactions.’
They show expertise in tax aspects relevant to the negotiations for the purchase of rights of corporate projects. They also have more than fair technical knowledge of the main renewable technologies.’
‘Solid knowledge and experience in relation to the energy sector. Totally dedicated team and seeking to achieve the imposed results efficiently and creatively.’
‘Fermín Garbayo shows great professionalism and closeness in dealings as well as an outstanding ability to manage the issues that arise as a result of negotiations. Predisposition and proactivity when defending the interests of the client.’
‘Excellent availability. High work capacity, outstanding level of quality. Excellence.’
‘Documentation quality. Proximity to the business, greatly facilitating communication with the principals of the transaction.’
Pricoa Private Capital
EDP Renewables Europe
- Advised Aquila Capital on the acquisition of two solar photovoltaic projects of circa 100MWp.
- Advised EDP España on the acquisition of two solar photovoltaic projects with an estimated capacity of 50 MWp to ES Planta Solar 1 and ES Planta Solar 2.
- Advised EDP España on the purchase of a project with a total estimated installed capacity of more than 164 MWp to (i) Sal Solito 2018 and (ii) Grufium Energías Renovables.
The energy and natural resources practice at Hogan Lovells International LLP, which sits within the regulatory and environment group at the firm is often retained by leading clients in the renewables, mining, and oil and gas industries to advise on regulatory issues, litigation, project development and high-value transactions. Leading the practice is renowned expert Fernando Calancha Marzana, an arrival from PwC Tax & Legal Services in February 2022 who ‘stands out for his professional experience‘ and ‘great manoeuvrability in difficult projects‘. Backing him are Lucas Osorio, a specialist in corporate issues and counsel David Antón. In December 2021, Santiago Garrido left the firm.
‘Fernando Calancha knows first-hand the regulatory developments and the lobbying activities of the main agents and largest companies in the sector. This allows him to give very accurate advice in the management of administrative and contentious matters, such as in the resolution of complex regulatory matters.’
‘Fernando Calancha stands out for his professional experience both in his years as a state lawyer within the administration and in his years as a partner professional office for the private sector. Likewise, he maintains a constant dialogue both in the public sector and in the private sector with the main agents that allows it to know the current situation of the sector.’
‘Fernando Calancha has solid expertise, and great manoeuvrability in difficult projects in which dialogue with the administration is necessary. Excellent treatment and full availability and personal reliability when urgent responses are required.’
‘The main strength of the energy team is that it has extensive knowledge of the sector, and therefore, in company due diligence processes, they are not limited to reviewing strictly corporate or real estate aspects, but also analyse permit issues in detail. That can help a lot to the technical team of the company.’
‘David Antón stands out for his knowledge, his availability and autonomy to also advise the technical team. In matters that have been entrusted to him, he does a very professional and thorough job.’
‘The team demonstrates a very broad legal vision and a great capacity to assess the different approach alternatives to the issues, sharing the full analysis with the client, albeit duly accompanied by an assessment of the team that allows choosing the most appropriate option for the client.’
‘Fernando Calancha is an excellent lawyer, with an excellent technical level, he is one of a kind. Fernando has a great human quality, his honesty with the client is undoubtedly something to value and thank. Anyone who has worked with him knows that you can entrust Fernando with absolutely any matter and that the result will be the best possible. These qualities also rain down on his team and that makes it work wonderfully well. Raúl Matute is intellectually brilliant. He has a promising future ahead of him.’
‘Fernando Calancha is an excellent professional who has known the sector from the administration and from the private sector. His global and polyhedral vision of the energy sector makes the difference when it comes to receiving global advice.’
- Advised Alfanar in the filing of an access conflict with the National Commission of Markets and Competition against the actions taken by the single node interlocutor Ibernova Promociones and a decision issued by the grid manager, Red Eléctrica de España.
- Advising Mytilineos and Aquila Capital on an agreement for the sale of a 100MW solar PV portfolio in southern Spain.
ONTIER‘s energy practice is characterised by a multidisciplinary approach, allowing it to cover the sale and purchase of renewable energy projects as well as the provision of regulatory, litigation, financing and restructuring advice. Pablo Enrile heads the practice alongside Lucía González, who was promoted to the partnership in August 2022, combining notable experience in M&A and energy projects.
Other key lawyers:
Teresa Baselga; Paula Rubio
‘Absolute availability, quality work and professionals who know the market and its main players’
‘Collaboration, compares positively with other offices.’
‘Preparation and closeness.’
‘Paula Rubio and Teresa Baselga provide knowledge of the subject and their closeness to the client stands out.’
‘Excellent team with a lot of experience in the industry, and noted for the ability to provide solutions to problems in a complex sector such as deferred time structured transactions in renewables.’
‘Pablo Enrile is an excellent commercial lawyer with extensive experience in energy.’
PwC Tax & Legal Services
With an ability to provide ‘an accurate vision of the legal implications‘ of a matter, PwC Tax & Legal Services‘ energy expertise extends to regulatory, litigation and transactional advice, with power supply contracts and power purchase agreements at the forefront of its offering. José Amérigo Alonso and Ana Rodríguez Cantarero share leadership of the team, featuring Reyes Gómez Román, an ‘excellent professional‘ who is ‘not only brilliant technically‘ but is noted for explaining issues ‘in an understandable and practical way‘. Marina Serrano joined the firm from Pérez-Llorca in February 2022, substituting Fernando Calancha, who departed the practice the same month.
‘PwC has always provided an accurate vision of the legal implications and their impact on the business, solving all existing doubts and helping to adequately focus solutions to existing internal challenges.’
‘Reyes Gómez Román is an excellent professional, not only brilliant technically but with a maximum capacity to transmit in an understandable and practical way the legal implications of a matter. It is worth mentioning, among others, her brilliance, autonomy, security, closeness, involvement in the business and humility, as well as her maximum availability in attending to needs.’
Iberdrola Renovables Energía
Bioeléctrica de Garray
Red Eléctrica de España
Zero Waste Energy
- Advised Gestamp Servicios throughout the process for the signing of a self-consumption Power Purchase Agreement (PPA).
- Provided Bioléctrica de Garray with a report on the possibility to apply the rebus sic stantibus clause to an electricity hedge executed.
- Advising a client on a joint venture to regulate the rights and obligations of all parties with relation to the planning, construction, operation and maintenance of a power evacuation infrastructure.
The energy offering at Ramón y Cajal Abogados garners praise for its specialisation in regulatory matters and M&A transactions in the space, with the financing of projects constituting a further key area of work for the firm. The four-partner leadership team features Javier Menchén and Amado Giménez on the finance front, regulatory specialist Pablo Silván, and Antonio de Mariano, noted for negotiations in the field.
Arena Green Power
Alas Capital 4
- Advising Arena Green Power on the sale and purchase from Enel Green Power of 100% of the shares of the owners of special vehicles of three photovoltaic projects under development with a capacity of 48MW in the province of Córdoba.
- Advising Q Energy on the sale and purchase of nine photovoltaic plants with an aggregate capacity of 0.9MW and the sale and purchase of 16 companies owning 16 photovoltaic projects with an aggregate capacity of 1.5MW.
- Advising Bankinter on the financing of the acquisition by Q-Energy of a portfolio of 5MM photovoltaic parks and the subsequent refinancing of the debt associated with the projects.
Advising on matters in the renewable energy sector is a key area of expertise for the team at Squire Patton Boggs, which particularly stands out for assisting lenders and sponsors with the financing of energy projects. The team also advises on power purchase agreements and M&A and other corporate transactions involving energy assets. Legal director Antonio Bañón, who joined the firm in March 2022 from Deloitte Legal, heads the energy and public law practice, while Madrid managing partner Teresa Zueco and Manuel Mingot, who has notable strength in the project finance space, are also key contacts.
Other key lawyers:
Teresa Zueco; Manuel Mingot; Alfonso López; Rafael Alfonso; Jesús Avezuela
Eiffel Investment Group SAS
EDF Trading Ltd
Solaria Energía y Medioambiente, S.A.
Acofi Gestion SA
Welink Energy Ltd.
Langa International SA
Acciona Energia, S.A.
Andersen Tax and Legal
Andersen Tax and Legal‘s energy and natural resources practice specialises in hydrocarbons, renewable energy, transport, electricity and mining, with coverage across Valencia and Madrid. In Valencia, mining expert Carlos Mínguez heads the practice, with Pedro Rubio leading the firm’s efforts from Madrid; the firm further bolstered its expertise with the addition of Carmen Mozún from KPMG Abogados, Spain in April 2022, followed by Carmen March‘s arrival from BROSETA Abogados in June 2022.
Sólida Energías Renovables
Junta de Andalucía
Araoz & Rueda‘s projects and energy team is characterised by a multidisciplinary offering, with the promotion, construction, financing, starting-up and operating of renewable energy projects taking centre stage. Francisco Solchaga leads the team alongside Laura Vintanel, combining expertise in a wide range of renewable energy projects, including in relation to their acquisition, sale and financing.
‘Lots of knowledge of the renewables sector.’
ENI Gas e Luce
Liechtenstein Invest GmbH/Si Capital
- Advised ENI Gas e Luce on the acquisition of three wind projects with an aggregate capacity of 126MWn in different locations from Azora and the acquisition of the Dhamma Group.
- Assisted Circle Energy, Ríos Renovables and a family office on the sale of a portfolio of seven PV projects with an aggregate power of 112MWp.
- Advised Alantra Solar on a joint venture agreement with Solarig for the joint development, construction and sale of a portfolio of 42 PV.
Led by Luis Ques, the public law and regulated sectors practice at EY Abogados exhibits a strong focus on regulatory matters, with additional experience in acquisitions of energy projects and assets, acting closely with the M&A practice at the firm. Ques is supported by senior managers Laura de Pedro and Beatriz Ruiz. The practice saw the departure of former practice head Félix Plasencia Sanchez in November 2021, while Marta Salazar joined the practice in September 2022 from Pinsent Masons LLP.
‘Professionalism and rigour.’
Andaluza Energy Agency
Albertis Autopistas España
Iridium Concesiones de Infraestructuras
Experos En Servicios de Consultoria Exes
Merck, Sharp & Dohme de España
Bristol Myers Squibb
- Advising BP on the legal interpretation of the requirements for participation in the call for proposals, and the eventual compatibility with the grants obtained through Important Projects of Common European Interest (IPCEIs).
- Advised Powen on various issues related to a legal interpretation of the subsidies granted to promote its self-consumption photovoltaic projects.
- Providing legal and regulatory advice to Grupo T-Solar Global in several matters related to the developing of renewable projects.
The energy practice at Fieldfisher JAUSAS offers expertise in cross-border energy disputes, with a further emphasis on regulatory, M&A and financing matters. Ramón Vázquez del Rey Villanueva heads the team, which is often retained by construction, infrastructure, industrial and energy clients. Other notable figures include experienced arbitrator Andrés de la Quadra-Salcedo and associate Javier Dáneo, active in M&A transactions.
Alpiq Energía España
Grupo Ikav Energy
Asociación Española de Cogeneración
Asociación Española para la Promoción de la Cogeneración
Asociación de Empresas para el Desimpacto Ambiental de los Purines
Explotación Estación de Servicio
Asociación Canaria de Energía Renovables
Asociación Eólica Canaria
- Advised Disa Holding in judicial proceedings for economic rebalancing of gas station concessions because of the impact of Covid-19.
- Advised Renerbio Group on a negotiation strategy with a supplier and preparing the necessary legal documentation to obtain suitable precautionary measures.
- Advised Lorte in the preparation of a report that allows it to set a negotiation strategy, or in its case, a challenge, in relation to the renewal of new hedges for the sale of electricity generated by a wind farm.
The ‘committed‘ energy team at GTA Villamagna Abogados specialises in the construction and operation of power plants and investments in the renewable sector, with additional ‘knowledge of administrative and regulatory law‘. Founding partner Ernesto García-Trevijano heads the team, with experience in thermo-solar, biomass, eolic and photovoltaic production plants, with Marta Plaza and Jesús Estrada also noted as key contacts.
‘They have consolidated their knowledge of the strong regulatory environment but have also developed a results-oriented legal vision aligned with the client’s business objectives.’
‘Their positive attitude makes it easy to find alternative and flexible solutions.’
‘Their knowledge of administrative and regulatory law is exceptional, but they are also committed professionals.’
‘Their responses are always results-oriented and adjusted to the urgency that is required, which allows the client to act immediately in situations that arise.’
Xallas Electricidad y Aleaciones
Junta de Compensación del Sector
Duet Spa & Sports
Grupo Aguas Alfaro
Volkswagen Group Charging
- Advising Xallas Electricidad y Aleaciones with regard to its eight hydroelectric energy production facilities.
- Advising Treemond on the acquisition of a strategic plot.
- Advising Orovalle Minerals on legal issues related to the daily operations of the El Valle-Boinás mine.
The energy and utilities group at Osborne Clarke ‘stands out for the technical knowledge of its lawyers and the ability to adapt to new developments in the sector‘, with knowledge extending to the development, financing, construction and acquisition of PV, CSP and mini-hydro plants. The team, led by Luis Castro, offers holistic advice on M&A, project finance, regulatory, real estate and tax issues. Associate Blanca Montero is a further key contact.
Other key lawyers:
Blanca Montero; Ana Isabel Lozano; Vicente Conde
‘Osborne Clarke regularly sends newsletters with legal news of great interest. In addition, they never leave a call unanswered and their availability is practically absolute.’
‘It stands out for the technical knowledge of its lawyers and the ability to adapt to new developments in the sector.’
‘The deep knowledge of the sector, especially Luis Castro in the regulatory field, Ana Isabel Lozano in the contractual field and Vicente Conde in the commercial field.’
RWE Renewables Iberia
Banco Sabadell-Sinia Renovables
Compañía Energética Aragonesa de Renovables
Qair Energy Group
Deutsche Leasing Finance
- Advised Global Solar Energy Veintisiete on the financing of a solar PV portfolio of three PV plants in Granada, totalling 98.5MWp.
- Advising Equitix on the acquisition of 100% of the shares of Haz Los Girasoles and Segre Energía.
- Advising Quintas Energy on the sale of 100% shares of Arclight Solar Issuer to Plenium Partners.
Pinsent Masons LLP
Led by corporate expert Borja Martín Ariza, Pinsent Masons LLP is sought for its renewable energy experience, providing extensive support through entire project life cycles. The team also features key senior associates Javier Alagón Serrano and Olimpia Ortega Mélida, but saw the departure of former practice head Pablo Dorronsoro and senior associate Marta Salazar. The practice was bolstered in February 2023 by the arrival of three partners from Bird & Bird: Hermenegildo Altozano, Alfonso Bayona and Juan de Navasqüés.
ABO Wind España
Alfanar Energía España
Renovalia Energy Group
Inversiones Empresariales Vapat
Técnica y Naturaleza,
Fundeen Spain PFP
- Advised BayWa in connection with its acquisition of a 783MW portfolio of eleven PV projects in different regions of Spain from QRA 1.
- Advised Ørsted on the establishment of four joint ventures with local Spanish developers Glide Energy, Rolwind, Arba Energías Renovables and Ereda for the development of solar and onshore wind projects.
- Advised Enagás on the investment in its affiliate Enagás Renovable of Hy24, a joint venture between Ardian and FiveT Hydrogen.