Projects and energy in Spain

Clifford Chance

Clifford Chance's strong banking and finance practice coupled with its impressive regulatory expertise in the energy sector make it well placed to advise commercial lenders and project sponsors on the financing of major energy projects. The firm's M&A practice is also of note, and the projects team is regularly involved in large-scale acquisitions of renewable energy assets. Contentious work also features, including ICSID arbitration proceedings against the Kingdom of Spain. Names to note in the sizeable team include banking and finance practice head José Guardo, corporate department head Javier García de Enterría, Luis Alonso, Javier Amantegui, Samir AzzouziJosé Luis Zamarro and Jaime Almenar, who heads the public law team.

Practice head(s):

Jaime Almenar; José Guardo; José Luis Zamarro; Luis Alonso; Javier Amantegui; Samir Azzouzi

Other key lawyers:

Clara Alcaraz; Marc Casas; Eduardo Sánchez

Key clients

Banco Santander


ACS Group



Deutsche Bank

European Investment Bank

Corporación Andina de Fomento



Allianz Global Investors

Falck Renewables




OPDE Group

Work highlights

  • Advises Iberdrola in a range of regulatory matters, including environmental issues, such as inter alia self-supply, electricity payments capacity and remuneration of renewable energy.
  • Advising Banco Santander on regulatory risks arising from the regulated remuneration of the Spanish electric system.
  • Advising on the acquisition of a wind farm portfolio of 419.16MW through two acquisition processes carried out in parallel.


Cuatrecasas is well versed in large-scale energy and infrastructure projects in Spain and Latin America, with recent cross-border projects involving Mexico, Colombia and Peru. With a sizeable team of multi-disciplinary lawyers, the firm is able to balance a high volume of projects involving the financing, acquisition and sale of energy assets. Luis Pérez de Ayala has a broad administrative and public law practice that sees him regularly advising clients on complex corporate transactions; Rafael Mínguez has a strong project finance background; Íñigo Rubio is the head of the finance team in Madrid; and Héctor Bros leads the firm's finance group in Barcelona.

Practice head(s):

Íñigo Rubio; Héctor Bros; Luis Pérez de Ayala

Other key lawyers:

Juan Carlos Hernanz; Federico Roig; Agustín Cerdá

Key clients











Work highlights

  • Advising on acquiring EDP Comercializadora, which includes a portfolio of 2.5m clients and two combined-cycle power plants with a capacity of 850MW.
  • Advising on selling 49% of Celeo Concesiones e Inversiones to APG under the existing global agreement.
  • Advising on the acquisition by Naturgy and Sonatrach of 42% of the company from Mubadala (Cepsa´s owner).

Gómez-Acebo & Pombo

Gómez-Acebo & Pombo's energy and infrastructure practice draws on the expertise of the firm's project finance, public law and M&A specialists. The team is also well versed in complex disputes, including arbitration proceedings related to Energy Charter Treaty (ECT) claims against the Kingdom of Spain. The success of the firm's practice in energy and infrastructure has led to a number of recent hires; of counsels Juan Romero and Eduardo Orteu joined from the Ministry of Development and the Ministry of Environment, respectively. The team also saw organic growth with the promotion of public law specialist Irene Fernández Puyol and M&A expert Pablo Fernández Cortijo in 2020. 'Extraordinary professional' Verónica Romaní maintains a broad practice and particularly stands out for project finance.

Practice head(s):

Verónica Romaní; Carlos Vázquez; Carlos Marina

Other key lawyers:

Irene Fernández Puyol; Juan Romero; Eduardo Orteu; Pablo Fernández Cortijo; Santiago Gómez-Acebo; Juan Pérez Gómez; Iñigo Arrieta


‘Gomez Acebo’s energy team is one of the best firms on these issues. Led by Verónica Romaní, this firm is one of the top 3 national and international firms in the sector. Their involvement in the processes and their understanding of the company’s needs place them in an ideal position for any process and negotiation, forming part of the team as if it were an in-house lawyer. ‘

‘Verónica Romaní is an extraordinary professional. Probably the highest quality and renowned partner in the renewable industry sector in recent years. Her involvement in projects, even the smallest ones, is relevant and her presence provides excellent value.’

Juan Pérez is a lawyer with high growth in recent years and a high level of independence. His knowledge of the sector, both renewable and financial, is very remarkable.

Very competent team. Very professional treatment. Multidisciplinary (commercial law, administrative law, etc.). One of the best teams in Spain.’

‘Santiago Gómez Acebo and Veronica Romani are recommended.’

‘The highlights of the GAPO energy team: – broad and very commercial vision of the market, being very active they understand complex operations well “interdisciplinary” leader (Verónica knows energy well, all areas of DD, contracts) with support from the rest of the office in specific things.’

‘’Verónica Romaní seems to me to be one of the best energy professionals.’

‘The personalized treatment and knowledge of the sector makes them differentiate themselves from their competitors. Verónica Romaní’s team inspires a lot of confidence, they are always ready to solve any problem and are very innovative and imaginative in the solutions they provide. From Verónica’s team, in addition to the excellence of Verónica herself, Juan Pérez Gómez and Iñigo Arrieta stand out, both very great professionals with great potential.’

Key clients

Cubico Sustainable Investments

Endesa, S.A. (Esp)

Eni Iberia, S.L. (Esp)

Naturgy (Esp)

Impax Asset Management, Ltd. (UK)

Oman Oil Company S.A.O.C. (Oman)

Sonatrach (Algeria)

Triodos Bank N.V., S.E. (Neth)

Helia Renovables F.C.R.

Watt Development

MEAG (Ger)

Q-Energy / Qualitas Energy


European Energy

Kendal Investments

DIF (Netherlands)

Abanca (Esp)

BBVA (Esp)


GED Infrastructure (Esp)

Kommunalkredit (Aus)

La Caixa (Esp)

Banco Santander (Esp)

Natixis (Fra)

Plenium Partners (Esp)

Meridiam (Fr)


BNP Paribas


Work highlights

  • Advised Q-Energy on the acquisition of a large-scale portfolio of renewable assets from TSK and other investors.
  • Advised the mandated lead arrangers (BNP Paribas) and Caixabank in the €320m refinancing of assets within the portfolio of Sonnedix.
  • Advised Cubico Sustainable Investments in the acquisition and refinancing of a large-scale PV Plant from Banco Sabadell.


Garrigues excels in the financing, refinancing, sale and acquisition of large renewable energy companies and projects in Spain and abroad. Outside of the energy sector, the team also has notable experience in transport and public infrastructure projects. Also of note is the firm's subsidiary, G-advisory, which draws on the expertise of engineers, economists, geologists and chemists to provide technical and strategic advice in the areas of energy, environment, sustainability, climate change and compliance. Among the team's highly experienced partners are Marcos Botella and Silvestre Arana; key associates in the team include Marta Clemente and Jon Goirigolzarri. Banking and finance specialist José Miguel Pinillos receives strong praise.

Practice head(s):

Mónica Martín de Vidales; Alvaro López-Jorrín

Other key lawyers:

José Miguel Pinillos; Silvestre Arana; Marcos Botella; Gaspar Atienza; Xabier Urtiaga; Álvaro Valle; Marta Clemente; Jon Goirigolzarri


I tend to work with Garrigues a lot, especially on the really material operations which are often the most challenging from a pre-legal and enforcement point of view. The reason is to be able to work with Jose Miguel Pinillos. The strong points are: Absolute dedication on the part of Jose Miguel as a partner in all matters, not only in the kick off and in meetings with clients; Work capacity (nights, weekends); Access to the different areas to give us a complete vision; Interpretation of real operations; Proposals for real unlocking in a negotiation between various parties.’

Key clients




















Work highlights

  • Advised a syndicate of financial institutions on the granting of a structured financing which served to refinance (a) the financial indebtedness of a portfolio of twelve wind farms located in Spain with an aggregate capacity of 420MW and (b) the intercompany financing for the acquisition of said portfolio.
  • Acted as Spanish legal counsel to Kincardine Offshore Windfarm Limited as borrower and Cobra Instalaciones y Servicios as guarantor in connection with a green bridge facility agreement, governed by the law of Spain for an amount of £380m.
  • Advised Pavilion Energy on an LNG portfolio deal with Iberdrola through which the client entered the European market.

Herbert Smith Freehills LLP

Praised for its 'excellent knowledge of the regulation of the sector' and 'great commercial vision', Herbert Smith Freehills LLP is a leader in the energy and infrastructure sectors in Spain. Its expertise spans solar, wind, oil and gas, biomass and mining projects, where the team is able to advise on the full life cycle of projects, from development to planning to dispute resolution. In addition to projects taking place in Spain, the Madrid-based team also collaborates with colleagues abroad to advise on deals involving international assets. Key names in the team include Miguel Riaño, Ignacio Paz, highly regarded of counsel José Ramón Mourenza, and recently promoted partners Iria Calviño and Armando García-Mendoza.

Practice head(s):

Miguel Riaño; Ignacio Paz; Armando García-Mendoza

Other key lawyers:

Iria Calviño; José Ramón Mourenza; Miguel Fraga


‘Excellent knowledge of the regulation of the sector, great commercial vision, knowledge of the business and the needs of the client. Anticipation. Availability and accessibility. Ignacio Paz, José Ramón Mourenza, Iria Calviño, Miguel Fraga.’

The have the best professionals, with a very high level of knowledge and experience.’

‘The speed of the response, the management with the client, the strength of their training. For me they are the best in the energy area by far. It is worth noting the enormous professionalism and treatment of José Ramón Mourenza: ’

José Ramón Mourenza stands out for his quality and knowledge of energy matters.’

Key clients

Gestamp biomass

ACS (Cobra)

Berkeley Minera España

Cubico Sustainable Investments

Elawan Energy

Credit Suisse Energy Infrastructure Partners (CSEIP)

Sustainable Development Capital Energy Efficiency Income Trust (SEEIT)


Cheniere Energy



Banco Sabadell

Banco Santander

Abanca Corporación Bancaria

BNP Paribas.

Work highlights

  • Advised the client on the acquisition of a portfolio of nine co-generation projects in Spain from Sacyr Industrial Renovables, the first acquisition of this client in Spain.
  • Represented the client on the acquisition of the Spanish entity Arenales Solar PS, which is the owner of a concentrated solar power plant located in Morón de la Frontera (Sevilla) of a generation capacity of 49.9MW.
  • Advised on the financing granted to Ence Energía Solar for the purposes of, among other aspects, financing the acquisition by the borrower of 90% of the share capital of Iberdrola Energía Solar Puertollano (now Ence Energía Termollano).


Among the top firms in the Spanish market for energy regulatory and contentious matters, Linklaters is highlighted for its ability to 'handle a diversity of highly complex issues, especially in the case of different jurisdictions and related to other areas of law (such as corporate, arbitration or bankruptcy)'. The firm's traditional strengths in finance and M&A are also evident in Spain, and the team is regularly instructed on high-value acquisitions in energy companies. Names to note include former state attorney and head of the public law department José Giménez, energy and M&A specialist Lara Hemzaoui, senior partner Alejandro Ortiz and counsel Roberto Sánchez.

Practice head(s):

José Giménez; Alejandro Ortiz; Lara Hemzaoui; Roberto Sánchez

Other key lawyers:

Jorge Toral


‘They have a very powerful team with vast experience in construction and operation of hydrocarbon transport infrastructures.’

Their experiences have helped us a lot to face different legal issues that had a particular complexity since they are about projects outside of Spain that also require additional involvement in the context of the country.’

‘The practice of energy requires being very aware of the regulatory changes that are continuously taking place, as well as the very operation of the sector from the economic and technical points of view. Flexibility and adaptation to the characteristics and needs of the client is valued in a relevant way. Linklaters stands out in these aspects compared to other firms.’

I want to mention Pepe Jiménez for his great experience. He is one of the best attorneys in the energy practice in this country. Likewise to Jorge Toral for his great work capacity, interest in the reality behind the issues and his high quality contributions.

‘Roberto Sánchez: Counsel in the practice of public law and regulated sectors of Linklaters, has extensive experience in advising large companies in regulated sectors in Spain that maintain investments abroad, which has allowed us to provide comprehensive advice on different issues of our investment in Latin America.’

‘Technical knowledge in energy regulation and administrative / public law; direct experience with large companies in the energy sector, which allows us to contribute diverse views.’

‘The team led by Jose Giménez is exceptional and brilliant, with great knowledge in energy and litigation. In my opinion, it is among the best firms for handling this type of matter, not only because of its continuous availability and customer service, but also because of the added value that they always provide in everything they do.’

They handle a variety of highly complex issues, especially when it comes to different jurisdictions and related to other areas of law (such as corporate, arbitration or bankruptcy) which makes the service much more complete.’

Key clients







First State

Banco Santander


Banco Sabadell

Work highlights

  • Advising Iberdrola on several regulatory matters, including appeals against Order IET/350/2014 from the Ministry of Industry, Energy and Tourism establishing the percentage of the social discount to be payable by each energy company in 2014.
  • Advising two of the main Spanish subsidiaries of Repsol in several complex litigation proceedings before the National High Court (Audiencia Nacional) regarding claims relating to the Spanish support scheme applicable to co-generation plants.
  • Advising REE on different regulatory matters concerning its current status as sole electricity transporter and technical system operator in Spain.

Allen & Overy

Allen & Overy is highlighted for its 'seamless collaboration between different locations and jurisdictions', which allows it to handle complex, cross-border projects and deals, as well as arbitration. Its cross-departmental collaboration is also of note; the team is able to advise on a range of M&A, financing and litigation. Leading practitioners in the team include finance specialists Charles Poole-Warren and Jimena Urretavizcaya, public law expert Pablo Mayor, dispute resolution partner Antonio Vázquez-Guillén, and Iñigo del Val and Ignacio Hornedo, who stand out in M&A.

Practice head(s):

Pablo Mayor; Charles Poole-Warren; Jimena Urretavizcaya; Íñigo del Val; Antonio Vázquez-Guillén; Fernando Torrente; Ignacio Ruiz-Cámara; Ignacio Hornedo

Other key lawyers:

Vanessa Cuellas; David Ingle


‘Detailed knowledge of regulation and the market situation They understand and differentiate what is key, what is desirable and what is market practice. Great experience’

Iñigo del Val Ignacio Hornedo Francisco Martinez: They stand out in their experience, excellence, technical knowledge, customer orientation, commercial focus, availability and their human quality.’

They know what they are talking about and have a lot of experience.’

‘Seamless collaboration between different locations and jurisdictions.’

‘Antonio Vazquez – always approachable and having the big picture.’

David Ingle: Keeping track on all matters and always on top of things.’

Key clients




Total Solar


Eliantus Energy

Credit Suisse Infrastructure Partner

Innogy Spain


Banco Santander




Mediterranean Shipping Company

Work highlights

  • Advised AP Moller Capital on the acquisition of Iberafrica, owned by Naturgy, which operates a diesel energy generation plant in Nairobi.
  • Advised AXA Real Assets on its acquisition (together with Acciona) of 33% Acciona Energia from KKR.
  • Advised Infracapital on the acquisition of 80% of Endesa Soluciones Energéticas from Endesa Energia.

Ashurst LLP

'A great multi-disciplinary team that draws on the experience of high-calibre lawyers', Ashurst LLP maintains a busy projects practice and is often involved in cross-border deals, covering all corporate, finance and tax aspects. On the contentious side, the team is also equipped to represent clients in energy-related arbitration. Project finance specialist Manuel López has notable experience in both energy and infrastructure (including railway, road and airport) projects. Corporate and energy expert Andrés Alfonso also receives strong praise.

Practice head(s):

Manuel López; Andrés Alfonso

Other key lawyers:

Pedro Díaz; Pablo García-Manzano; María José Menéndez; Jose Christian Bertram; María García de Vega; José Antonio Rodríguez; Agustín Luque


‘Deep knowledge of the business. Closeness. Availability of partners.’

‘Andrés Alfonso, the partner of the practice, is very commercial and when the operation gets complicated, he is always capable of providing solutions to carry out the transaction.’

‘A great multidisciplinary team that draws on the experience of high-calibre lawyers skilled on the different aspects of the law.’

‘The Ashurst team works in various branches of Law, providing knowledge and experience in several of them when necessary. In our case, the energy sector, Ashurst has shown great knowledge, and an in-depth study of the cases studied. In addition, it has worked in relatively short terms, always offering total availability, which makes it an agile and dynamic office.’

I would highlight its involvement in the client’s needs, providing solutions and alternatives from the legal point of view, and also from the business. Andrés Alfonso, Pedro Díaz and Pablo García-Manzano.’

‘They are always ready at 500% to carry out the necessary tasks for a successful closing.”

‘I worked closely with Manuel Lopez (Partner) and Agustin Luque. Exceptional team.’

Key clients






Corsair Infrastructure Partners


John Laing



Rivage Investments

Siemens Gamesa



Work highlights

  • Advising InfraVia on the acquisition of Molgas Energy Holding, a company leader in the energy service sector for liquified natural gas (LNG) which has operations in Spain, France, Portugal, Italy, Ireland and the UK, from Broadview Holding and Nuntelias.
  • Advised Iridium on the sale to the British fund Hermes Infrastructure of 74% of the group’s stake in six shadow toll concessions in Spain.
  • Advising John Laing on its first investment in Latin America. The transaction involved the purchase of a 30% stake in Concesionaria Ruta del Cacao, a concessionaire for the infrastructure 4G project for the construction and operation of toll road Ruta del Cacao in Colombia.

CMS Albiñana y Suárez de Lezo

CMS Albiñana y Suárez de Lezo is noted for its 'deep knowledge of the energy sector'. The department was further strengthened by the arrival of former state attorney Ignacio Grangel, who stands out for his regulatory and public law expertise. He joins managing partner and M&A expert César Albiñana and Luis Miguel de Dios, who balances a broad corporate, securities and finance practice and also heads the firm's German desk in Spain. The department also expanded with the arrivals of counsels José Luis Pérez-Campoamor from another firm and Reyes Robledo from an in-house position with Red Eléctrica. Irene Miró and Marta González are key associates making a mark in the team.

Practice head(s):

César Albiñana; Ignacio Grangel; Luis Miguel de Dios

Other key lawyers:

Irene Miró; Marta González; José Luis Pérez-Campoamor; Reyes Robledo


‘They have an extremely reliable team, highly specialized in the sector, with always exquisite treatment and availability, always being very reliable. In the energy sector we have a lot of reliability in CMS Albiñana and Suárez de Lezo.’

Ignacio Grangel stands out, whose main qualities would be: reliability, extensive experience in the Sector, total availability.

‘‘Deep knowledge of the energy sector, with extensive experience in both the public and private sectors. Ignacio Grangel Vicente, Reyes Robledo Romero.’

‘The team is very decisive and adapts to the flexibility that the sector requires.’

‘If I had to highlight a quality of its staff, it is the excellent personal treatment both with the client and with the opposite, the predisposition to take care of matters, the transparency with which they deal and the constant feeling that they are collaborating, not posing problems.’

‘Marta González has proven to be an excellent professional with extensive knowledge of project finance operations.’

Irene Miró is recommended.’

‘The lawyer Ignacio Granjel is a great expert in energy regulation, daring in his approaches but rigorous. Fully recommended in conflicts or in-depth legal analysis.’

Key clients

Iberdrola Generación


Real Asset Advisers Limited (RAA)

Brookfield Asset Management

Encavis AG

British Petroleum (BP)


Iberdrola Renovables Energía

Iberdola Clientes / Iberdrola Comercialización

Wirsol Group

General Electric Renovables España


Redexis Gas

Hanwha Energy


Wind to Market

Work highlights

  • Advising in relation to the acquisition of the shares of two companies holding two photovoltaic projects.
  • Advising in relation to the structuring, negotiation and co-investing of the €445m sale by KKR of its 33% stake in Acciona Energía Internacional to AXA IM Real Assets (20%) and Acciona (13%).
  • Advising on the acquisition of a 50% stake in X-Elio from KKR.

DLA Piper

Noted for its 'great attention to detail', DLA Piper has a solid energy offering in Spain, and leverages its international expertise and network to handle cross-border projects in addition to domestic ones. The team's broad client base includes banks, insurance companies, investment funds, issuers, borrowers and institutional investors. The firm has a strong legal technology service, and has legal project managers working with partners across different practice areas; it also maintains a Legal Delivery Service, which is staffed by legal technicians and handles commoditised tasks in a cost-effective manner. Javier Santos is the head partner for energy; César Herrero is head of projects, finance and restructuring. José Manuel Sala is a key of counsel in the team.

Practice head(s):

Javier Santos; César Herrero

Other key lawyers:

Jesús Zapata; José Manuel Sala; Juan Gelabert; Carlos Daza


‘Quick and attentive. Great attention to detail and great customer service. They have a lot of experience in the sector and thanks to this they are able to anticipate possible problems that may arise.’

‘‘Javier Santos. Energy partner. For us, he is another member of the team, he knows perfectly every detail of our projects and the needs we have. ‘

Professionalism and seriousness.’

‘Jose Manuel Sala is a great professional, with extensive knowledge of the subjects of his specialty.’

Key clients


Grupo Suez



EDP Renovaveis

NextEra Energy

Unión Fenosa Gas

Red Eléctrica de España



Aquila Capital

Falck Renewables


Ardian Infrastructure Fund



Electrabel NV


Banco Sabadell

Balearia Eurolíneas Marítimas, S.A.


Norddeutsche Landesbank Girozentrale

Sol Noctis



Work highlights

  • Advised banks on a €420m offshore wind farm financing.
  • Advised Spanish Iberdrola on a counter-offer against the Australian renewables company Infigen for €510m.
  • Advised Banco Sabadell on financing a new Forestalia photovoltaic plant in Zaragoza.


MVA ASOCIADOS 'has a solid knowledge of the sector and has participated in many M&A operations of energy companies'. Its clients - which include major domestic and international companies and investors - also turn to the team for regulatory advice and litigation support. Gervasio Martínez-Villaseñor 'stands out for his vision and his way of approaching problems'; he has a strong transactional practice and is particularly active in M&A involving greenfield and brownfield projects. Javier Montalvo, whose expertise spans power, renewables and oil and gas, heads the energy practice. Gonzalo Rubio was promoted to partner in 2020.

Practice head(s):

Javier Montalvo; Gervasio Martínez-Villaseñor

Other key lawyers:

Eduardo Abril; Gonzalo Rubio; Beatriz Villalba; Pablo Galera


‘MVA has a solid knowledge of the sector and has participated in many M&A operations of energy companies, in addition to knowing the day-to-day problems of this type of company.’

‘Their availability and flexibility make them different, in addition to their deep knowledge of the regulation of the sector. Gervasio Martinez-Villaseñor stands out for his vision and his way of approaching problems. ‘

‘High level of closeness and availability by Gervasio and Javier.’

‘MVA has provided very good advice on energy matters, his knowledge is very solid and his writing is impeccable and very well founded. Gervasio Martínez-Villaseñor, Gonzalo Rubio Hernández-Sampelayo’

‘A great team of professionals with knowledge in the legal field of energy.’

‘The availability of its members towards the client is a very remarkable point.’

Key clients



Red Eléctrica de España, S.A.

Naturgy Energy Group

ACER (Agency for the Cooperation of Energy Regulators)

Hanwha Group

Reden Solar, S.A.S.

Planta de Regasificación de Sagunto (SAGGAS)

Nordex Energy Spain, S.A.

Glennmont Partners

TOTAL Gas y Electricidad España, S.A.U.

BP Spain (power, gas and oil)

Gas de Extremadura (DICOGEXSA)

Villar Mir Group (including its subsidiaries VILLAR MIR ENERGÍA and ENERGYA VM)

Asociación Española del Gas (SEDIGAS)




Work highlights

  • Provision of complete legal advice in all the M&A and ancillary activities for the acquisition of a portfolio of 1,000MW solar PV projects in Spain and the related follow-up of project development activities.
  • Advised during all the processes of legal due diligence, acquisition and refinance of three different operating (brownfield) Solar PV portfolios of projects in Spain, and in the subsequent process of cancellation of the existing project finance and for the re-finance of all projects.
  • Provided legal advice in relation to the repowering in 1,014 MW (1,360 MW in total) of existing Aguayo Hydroelectric Plant, located in Cantabria.


Pérez-Llorca excels in project finance and is a popular choice for financial institutions as well as energy companies. M&A involving significant renewable energy projects is also a mainstay. The team has seen notable growth in recent years; 2019 saw the arrival of corporate partner Dídac Severino and former state attorney and energy expert Ana Cremades, who was promoted to partner in January 2021. Ander Valverde is a name to note for finance, while Elena Veleiro specialises in regulatory matters. Javier Carvajal focuses on corporate and M&A and private equity.

Practice head(s):

Ander Valverde; Elena Veleiro; Javier Carvajal; Dídac Severino

Other key lawyers:

Ana Cremades; Alejandro Osma; Ildefonso Arenas; Mónica de San Román; Juan Manuel Bethencourt; Marina Serrano

Key clients

Banco de Sabadell

Banco Santander



BNP Paribas


Capital Energy

EDP, España S.A.U.

Engie España S.L.U.

Eurowind Energy


Grupo T-Solar


MET Energía España S.A.


Sener Ingenieria y Construcción

Solarpack Corporación Tecnológica S.A.

Sonnedix (Vela Energy)

Viesgo Renovables S.L.

X-Elio Energy

Work highlights

  • Advised Ben Oldman on the financing granted to two Spanish companies from the Greenalia group, for an aggregate amount of €26m.
  • Advised Autopista del Guadalmedina, Concesionaria Española on all the Spanish legal aspects regarding the refinancing of the existing debt through the issuance of additional further bonds for up to €30m.
  • Advised CaixaBank on several legal aspects: (i) Refinancing of various wind farms; (ii) refinancing of several photovoltaic plants; and (iii) granting a loan for €146m to three special purpose vehicles that are managed by Plenium Partners.

Uría Menéndez

Uría Menéndez 'has a cohesive team that works wonders' and is noted for its 'exceptional technical knowledge'. It is often involved in relevant energy projects in Europe and Latin America, with recent work involving M&A, project finance and refinancing, where the team has experience on both the lender and borrower side. The sizeable team of corporate, commercial and finance specialists includes Ángel Pérez López, Juan Ignacio González Ruiz and Carlos López-Quiroga, who is also name to note for shipping and transport.

Practice head(s):

Ángel Pérez López; Juan Ignacio González Ruiz; Carlos López-Quiroga

Other key lawyers:

Carlos de Cárdenas Smith; Ignacio Álvarez Couso; Borja Contreras Bernier; Manuel Echenique; Sergio Moreno; Ignacio Zapata Benito; Luis Jiménez


‘The team has exceptional negotiation skills and can really bridge the gap between counterparties on transactions, taking on a mediation role that often goes beyond the pure legal workstream. Having the ability to connect parties on transactions requires, among others, strong interpersonal skills that are greatly valued.’

‘Manuel Echenique and Sergio Moreno have been the key contacts during the transaction. Both are extremely commercial and solution oriented, coming up with creative solutions to complex issues that often we hadn’t faced before given the unprecedented times we are living through.’

‘An outstanding lawyer would be IGNACIO ZAPATA BENITO. Always very willing to work, even under pressure and to facilitate the work of the client.’

In general I consider the service to be very good. I consider that the area in charge of “Projects and Energy” is highly recommended due to its great experience and deep knowledge of the product “Project Finance” and, specifically, for the Energy, Infrastructure and Hospitality sectors.

‘Very prepared lawyers, with experience and quality of service. I highlight Ángel Pérez López: deep knowledge of the sector, constructive, decisive. Also to Luis Jiménez.’

‘Uría has a cohesive team that works wonderfully. They are great professionals and decisive people who provide exceptional service.’

‘People make organizations. At Uría, the people who make it up meet the highest standards. ‘

‘Exceptional technical knowledge and experience in similar transactions.’

Key clients

APG Asset Management


X-Elio Energy, S.L.

Grupo Ferroatlántica, S.A.U.


Ardian France

Plenium Partners

Banco de Sabadell, S.A.

ABANCA Corporación Bancaria, S.A.

Banco Santander, S.A.

Banco Bilbao Vizcaya Argentaria, S.A.

Caixabank, S.A.

JPMorgan Chase Bank, N.A.

Work highlights

  • Advised on the agreement between APG Asset Management and Elecnor for APG’s acquisition of 49% of Elecnor’s stake in the Celeo group, by means, inter alia, of a reorganisation of the stake held in Celeo Redes.
  • Advised on F2i’s acquisition of Renovalia; through this transaction, F2i invests outside Italy for the first time in one of the largest photovoltaic producers in Europe.
  • Provided advice to the syndicate of lenders, led by BBVA as agent and book Runner, in the circa €380m credit facility granted to a portfolio of 12 wind onshore projects located in Aragón, with an aggregate capacity of 487MW and owned by Copenhagen Infrastructure Partners.

Watson Farley & Williams LLP

The highly regarded energy team at Watson Farley & Williams LLP 'has impeccable knowledge of the renewable energy market in Spain and its participants'. It is regularly involved in the most high-profile and high-value energy-sector M&A and financing in the market, and its strong reputation has led to large numbers of new clients seeking the firm's advice in significant transactions. 'Brilliant M&A lawyerMaría Pilar García Guijarro leads the team alongside Rodrigo Berasategui, who draws on his strong banking and finance expertise in energy deals. Regulatory expert David Diez is another name to note.

Practice head(s):

María Pilar García Guijarro; Rodrigo Berasategui

Other key lawyers:

David Diez; Álvaro Barro; Javier Ester; Jose María Anarte


‘They are young lawyers with notable experience in the sector, they are up to date with news and developments, they are dynamic and know how to use accessible language, always being perfectly professional.’

‘Their ability to seek solutions, proximity, knowledge, experience.’

‘Watson Farley Madrid team, led by Maria Pilar Garcia Guajarro, has impeccable knowledge of the renewable energy market in Spain and its participants, as well as the constantly changing regulatory environment. They are both strong negotiators and have been great at reflecting complex commercial constructs in transaction documents.’

‘ I have been particularly impressed by Maria Pilar Garcia Guajarro. She is a brilliant M&A lawyer herself, but has also built a strong team that she can leverage on. Maria Pilar combines strong technical skills, commercial acumen and attention to detail with in-depth knowledge of renewable energy market practice and participants. Her drafting is meticulous and precise. She has a persuasive negotiation style.’

Key clients

NOY Infrastructure & Energy Investment Fund

Macquarie Capital

Ontario Pension Trust (OPTrust)

REEF Development (“REEF”)

Helios Energy Investment


CERBERUS Capital Management

Copenhagen Infrastructure Partners (CIP)


Work highlights

  • Advised CERBERUS Capital Management on the sale of its 100% stake of Renovalia Energy Group, to the Italian fund F2i, and, previously, on the sale of Renovalia’s Spanish 175MW wind portfolio to Ardian.
  • Aadvised Naturgy Renovables on the €600m corporate financing through a green loan granted by BBVA and Caixabank.
  • Advised Telefónica on the structuring, negotiation and signing of a long-term power purchase agreement (PPA) with Acciona, its first PPA in Spain.

Baker McKenzie

The energy and natural resources department at Baker McKenzie has experience across renewables, oil and gas, waste and water, and mining projects, acting for key players in these sectors, including Naturgy and Iberdrola, often in high-value matters. Antonio Morales heads the department and is well regarded in the market. Jorge Gómez is a name to note at the senior associate level.

Practice head(s):

Antonio Morales

Other key lawyers:

Luis Casals; Jorge Gómez


‘The Baker McKenzie team is simply outstanding in technical and industry knowledge and maintains a unique level of contacts in Spain.’

Technical knowledge, agility in response, creativity in solutions and excellent network of contacts. The partner Antonio Morales stands out in this line. He is simply the best lawyer in the country in this practice.

Key clients

Naturgy SA

Capital Dynamics

Iberdrola SA

Ellomay Capital Ltd.

Work highlights

  • Advising Spanish energy giant Naturgy on whether or not it has sufficient grounds to terminate a purchase agreement for LNG with another company.
  • Advised Naturgy on the acquisition of a stake in Medgaz, owner of the Algeria-Spain deep-water gas pipeline.
  • Advised Capital Dynamics on the acquisition of a 100% stake in the 133MW (megawatt) Puerto Real 1 photovoltaic project from renewable energy developer WElink Group.

Bird & Bird

The multi-disciplinary energy and utilities team at Bird & Bird combines M&A, regulatory and public law expertise, allowing it to advise clients across the full life-cycle of projects, including in disputes. The firm stands out for its sector-focused approach and has notable experience in renewables projects. Public law and litigation expert Coral Yáñez leads the team alongside Hermenegildo Altozano, who specialises in energy projects and investments in Spain and Latin America.

Practice head(s):

Hermenegildo Altozano; Coral Yáñez

Other key lawyers:

Juan de Navasqüés; Emilio Martínez; Carolina González


Comprehensive knowledge of the sector both theoretical and practical. Knowledge of the players in the sector, Active participation of partners in operations.’

Hermenegildo Altozano is known as one of the best specialists in the sector both nationally and internationally. His positive influence on the rest of those involved in the operations, even among lawyers from opposing firms, makes the operations go ahead and in the interest of his client.

Key clients


Panterra Gold

Orezone AB

Iberdrola Ingeniería y Construcción, S.A.U. Naturgy Engineering, S.L., Técnicas Reunidas, S.A. and Técnicas Reunidas Proyectos Internacionales, S.A.

Canadian Solar

Acciona Industrial

Renovalia Energy Group

Saskachewan ESF, S.L.

Buran Energy

Optima Energy España

Work highlights

  • Advised on the acquisition of a stake in Medgaz, the Spanish owner and operator of a deep water gas pipeline between Algeria and Spain.
  • Advising Australian company Panterra Gold Limited in connection with the incorporation of a joint venture in Cuba for the exploitation of the Oro y Plata la Demajagua deposit.
  • Provided legal assistance in the corporate restructuring and preparation for the sale of Renovalia by Cerberus to F2i investment fund.


DWF-RCD has an active energy practice, regularly advising on project development, investment and financing, and receives praise for its 'personalised treatment and great knowledge of the sector'. The team's client base is equally broad, including energy producers, developers and investors. Practice heads Javier Olmos and Federico Belausteguigoitia have strong experience in the energy sector, and lead the team from Barcelona and Madrid, respectively.

Practice head(s):

Javier Olmos; Federico Belausteguigoitia


‘Knowledge and experience in the energy sector and, especially, in projects that have specific remuneration. Gerard Pérez Olmos is recommended.’

Personalized treatment and great knowledge of the sector. Immediate response to any query, personalized treatment and great knowledge of the sector and energy legislation.

‘Customer orientation, flexibility. Federico Belausteguigoitia is recommended.’

Jones Day

The energy department at Jones Day sits within the firm's global energy, projects and infrastructure practice and benefits from its international network and knowledge, allowing it to handle cross-border projects and disputes. Its client base mirrors the team's mix of domestic and multi-jurisdictional work and includes leading players in Spain and abroad, including major financial institutions. Key practitioners in the team include Raimundo Ortega, Mercedes Fernández, Javier López Antón and Fernando Lillo.

Practice head(s):

Raimundo Ortega; Mercedes Fernández; Javier López Antón; Fernando Lillo

Other key lawyers:

Sergio Cires; Antonio Canales; Javier Moya;


‘Knowledge of the sector, commercial vision, very good experience. Mercedes Fernández, Sergio Cires, Raimundo Ortega, Antonio Canales.’

Great team, extensive resources, they have experts for any subject, good balance between seniors and juniors. High involvement of senior lawyers, quick to give feedback, they try to provide solutions and not complications, open to changes and high quality of service.

Key clients

Energya VM (Grupo Villar Mir)


Cooperativas Agrarias de España (CAE)

Banco de Sabadell, S.A.


Acciona / Nordex


Banco Santander


Work highlights

  • Acts as regulatory counsel to Energy VM, one of the first independent electricity generators and suppliers in the Spanish market.
  • Advised Aberdeen Infrastructure on its 47.5% acquisition of the share capital and related financing of Spanish company Autopista del Guadalmedina, Concesionaria Española.
  • Advised Enel Green Power España with the bridge loan and subsequent €25m project financing of a 23.93MW wind park located in the municipality of Fuendetodos (Zaragoza, Spain).

King & Wood Mallesons

The dedicated energy and infrastructure team at King & Wood Mallesons utilises its extensive regulatory expertise to advise on the sale and acquisition of renewable energy assets and portfolios, often working alongside colleagues in the firm's M&A department. Gonzalo Olivera has experience across the full range of energy and infrastructure sub-sectors, and has recently been particularly active in large-scale solar photovoltaic projects. Senior associate Alberto Artés also takes a key role on the department's transactions.

Practice head(s):

Gonzalo Olivera

Other key lawyers:

Alberto Artés


‘Very reliable legal partner. Good inputs and knowledge of Spanish sector.’

‘Impeccable reaction to our needs. Small team which is well coordinated and aware of each others tasks and actions.’

‘Agility, service and professionalism.’

‘Gonzalo Oliveira maintains an excellent level of service and advice at all times. Alberto Artés prepares excellent communications with perfect legal sense and great formal correction.’

Key clients


EDP Group

EKZ Renewables




European Investment Bank

First State


Capital Dynamics

Work highlights

  • Advised Galp on the €2.2bn cross-border acquisition of the solar photovoltaic business of listed company ACS in Spain.
  • Advised EDP on the transaction agreed with Macquarie that included the acquisition of Viesgo Distribution (75.1%), Viesgo Renewables (100%) and Viesgo Coal (100%) and the transfer of 24.9% of EDP’s Distribution business (E-Redes).
  • Provided advice to NClave on the drafting and negotiation of solar PV mounting structure and tracker supply agreements for several PV plants located around the world (including in Kenya, Spain and Mexico).

Araoz & Rueda

Araoz & Rueda is highlighted for its 'great agility and availability, as well as market knowledge and ability to manage agreements'. The experienced team is led by Francisco Solchaga and acts for promoters, contractors, banks, buyers and sellers, and has recently worked with a range of new and longstanding clients on project acquisitions and financing. Laura Vintanel was promoted to partner in 2020 and is a key member of the team.

Practice head(s):

Francisco Solchaga

Other key lawyers:

Laura Vintanel; Jon Ibeas; María Nieto


‘Their knowledge of the client’s needs and their predisposition in the search for adapted solutions.’

Paco Solchaga’s versatility makes him stand out from the rest of his competitors.’

‘I appreciate their great availability and commitment.’

‘Araoz y Rueda has a magnificent team that, compared to other firms with which I have worked, has great agility and availability, as well as market knowledge and the ability to manage agreements.’

Francisco Solchaga is a reference in the market, and a professional of recognised prestige among Spanish companies that are in the energy sector. We all highlight their knowledge of the market, accessibility and availability, and ability to negotiate and manage agreements.’

‘They need to know very well the steps to take in everything that surrounds renewable infrastructures, especially wind and solar. To be able to advise a client in this area, it is necessary to have a very specialised knowledge since there are many factors that come into play, from the development phase, construction and operation of the facilities.’

The plus they have is that they are very involved in the energy sector and more specifically in renewable energies. They have highly specialised professionals with extensive experience in the sector, especially Francisco Solchaga.’

Key clients

Total Solar


Aurea Capital


Circle Energy



Canadian Solar

Rios Renovables


Work highlights

  • Advised the Cypriot investment fund Greenmont on the investment in the energy trader Nace Energía (NACE).
  • Provided advice to Banco Sabadell on a project finance debt assignment and, simultaneously, to Renovatio’s shareholders on the sale of a PV project of 23MWp in operation located in Jumilla (Murcia) to British fund Cubico Sustainable Investments.
  • Advised English private equity fund Perwyn on the sale to Sonnedix of its portfolio of 10 PV projects in operation in Spain in a competitive bid contest organised by PWC.


The energy team at Dentons has experience across LNG and natural gas transactions and renewable energy projects in Spain and abroad. Insurance is another area of expertise for the firm, which advises insurers on underwriting insurance policies for purchasers of Spanish renewable power assets. Javier Lasa is a name to note. In April 2021, the practice was further strengthened by the arrival of Fermín Garbayo. Mario Sáez is a name to note at the senior associate level.

Practice head(s):

Javier Lasa; Fermín Garbayo

Other key lawyers:

Mario Sáez; Baldomero Casado

Key clients




Work highlights

  • Advising on the purchase of the entire renewable energy portfolio of Grupo ACS by means of the acquisition of 100% of the shares of Zero-E Sustainable.
  • Advised Kaiserwetter Energy Asset Management on two different transactions for the sale of subsidized PV solar plants for an aggregate of €85m.
  • Helped Novaluz Energia to establish and register as a supply company in Spain.

EY Abogados

With 'encyclopaedic knowledge of the regulation of the sector', EY Abogados is often instructed by clients on regulatory matters, and also collaborates with the firm's M&A team in acquisitions of energy projects and assets. Firm-wide, the acquisition of legal managed services (LMS) provider Pangea3 further enhanced its tech-enabled LMS in contract life cycle management, regulatory risk and compliance and investigations. The highly regarded Félix Plasencia heads the energy department from Madrid; Pablo Tramoyeres is a key contact in the Valencia office.

Practice head(s):

Félix Plasencia; Pablo Tramoyeres

Other key lawyers:

Luis Ques; Laura de Pedro; Beatriz Ruiz


‘Encyclopaedic knowledge of the regulation of the sector, very good knowledge of the business and the client, strong commercial vision and oriented to the needs of the client, creativity when seeking solutions to new problems. Excellent availability.’

In a sector so regulated and subject to so many legislative changes in recent years, having such in-depth knowledge plus business acumen is an extremely useful combination to support in-house attorneys.’

‘Felix Plasencia and Laura de Pedro are recommended.’

‘Highly professional team.’

‘Félix Plasencia is a magnificent highly qualified professional.’

Key clients
















Work highlights

  • Advised on the regulation of the fee for the use of continental waters for the production of electric energy in intercommunity demarcations.
  • Providing recurring legal services to EOLIA, including regulatory advice in its acquisitions of projects and operational assets, such as Los Barrios Project (three wind farms under construction with 121MW).
  • Provides legal regulatory support in connection with the supply of electricity to industrial consumers by means of the installation of photovoltaic projects under self-consumption regime.

Ramón y Cajal Abogados

The broad energy practice at Ramón y Cajal Abogados is equally adept in energy-sector M&A, regulatory matters and project finance, where it often acts on the side of the lenders, and also has notable experience in infrastructure projects. Finance partner Javier Menchén heads the department alongside commercial law expert Antonio de Mariano and regulatory and litigation specialist Pablo Silván.

Practice head(s):

Javier Menchén; Pablo Silván; Antonio de Mariano

Other key lawyers:

Manuel Jiménez-Quiros; Amado Giménez


‘The RyC project and energy team is very competent, proactive, they show absolute availability and great commercial spirit.’

‘Antonio de Mariano and Manuel Jiménez-Quiros are examples of two very well-prepared lawyers, who master the matter and with a client-centered practice.’

‘Javier Menchén Calvo is recommended.’

Key clients

Hanwha Q CELLS GmbH

Kobus Partners


Aldro Generación

Ric Sun Group

Solaer Holding

EDP Renovables España

Naturgy Renovables


Asturmadi Reneergy

Arcelormittal España


Redexis Gas

Etex Group

Suez Spain


Work highlights

  • Advised Hanwha Q Cells GmbH on the acquisition of 16 Spanish companies (SPVs) as owners of 23 photovoltaic projects in an early stage of development in Spain with a combined power capacity of 1GW.
  • Advised Repsol Renovables during the negotiation, marking up and signing of the set of contracts executed for the construction of 8 wind energy projects placed in Aragon with 335 MW aggregated power capacity.
  • Advised Bankia and ICO on the financing for the construction of the C-415 offshore ship for offshore wind platforms developed by Astilleros Balenciaga.

Squire Patton Boggs

Squire Patton Boggs stands out for its project finance offering, where the team acts for a range of sponsors, lenders and borrowers. Its international network and experience makes it well suited to cross-border work, though it is also focusing on domestic renewables projects. Energy and finance specialist Manuel Mingot is well regarded. Project finance partner Antonio Cañadas and administrative law expert Jesús Avezuela are other key figures in the department.

Practice head(s):

Manuel Mingot; Antonio Cañadas; Tomas Cerdan

Other key lawyers:

Jesús Avezuela; Antón Ramil


‘Manuel Mingot is recommended.’

Key clients









Work highlights

  • Advised Ibereólica Cabo Leonés III, as US and Spanish borrower’s legal counsel, in the 78.1Mw wind farm project being developed by the latter in Freirina, in the region of Atacama in Chile.
  • Advised Ibereólica Cabo Leonés III on the €17m first lien construction term loan granted by Siemens Financial Services Inc. to the holdco of Ibereólica Cabo Leonés III, the Chilean company Parque Eólico Cabo Leonés III.
  • Advised EDF Trading, as PPA provider, on the signing of a financial PPA agreement for the 49MWp solar PV project developed by Fotolvoltaica Guzmán, S.L. in Huelva.

GTA Villamagna Abogados

GTA Villamagna Abogados' energy department covers M&A, contracts, regulation and administrative matters related to infrastructure and renewable energy projects. Ernesto García-Trevijano has a strong public law practice, with experience across thermosolar, biomass, wind and photovoltaic energy production. The firm also showed its investment in this practice through the promotion of Jesús Estrada to partner in 2020.

Practice head(s):

Ernesto García-Trevijano

Other key lawyers:

Jesús Estrada


‘Jesús Estrada is a very efficient lawyer with very good judgment. He has facility to understand the situations that are exposed to him, also approaching to understand the technical aspects of the matters. All of this complements his very good legal response.’

Key clients





ELNOSA (Eléctrica del Noroeste S.A.)






Work highlights

  • Advised the client with regard to its eight hydroelectric energy production facilities and the management of the five dams that it manages under concession from the Galician Public Water Authority.
  • Advised on the acquisition of a ferroalloy industrial factory in the north of Spain that involves the use of port and maritime-terrestrial domain, as well as different environmental and polluted soil matters.
  • Assisted in the negotiation and execution of the construction contract for a dam and 164MW hydropower plant of Alto Tamega in Portugal.

Hogan Lovells International LLP

Hogan Lovells International LLP has a good reputation for regulatory work, and applies this strength to the energy, infrastructure and mining sectors, where its team regularly advises on the regulatory and environmental aspects of major Spanish projects. Santiago Garrido heads the experienced team, which includes counsel David Antón.

Practice head(s):

Santiago Garrido

Other key lawyers:

David Antón; Helena Villena; Borja Fernández; Blanca García de Madariaga


‘The team has extensive knowledge of the Spanish energy sector, and mainly of renewable energy and of all regulatory issues, permits, etc. that are necessary to develop and build energy projects in Spain.’

‘The department partner is very accessible and participates directly in the main issues, and the rest of the department has a very broad knowledge of the sector.’

Key clients

Tikehau Capital

Work highlights

  • Advised Tikehau Capital on the acquisition of the biomass business held by Acek Energías Renovables.


Renewable energy is a major focus area for ONTIER, which has significant experience in the sale and acquisition of energy projects and portfolios. The team has recently gained a number of new clients, which instruct it on a range of domestic and cross-border deals. Joint practice heads Pablo Enrile Mora-Figueroa and senior associate Lucía González Fernández receive praise.

Practice head(s):

Pablo Enrile Mora-Figueroa; Lucía González Fernández

Other key lawyers:

Francisco Fenoy; Oscar Murillo


‘They have a lot of experience in commercial renewables operations, so they can benefit from past experiences.’

‘Pablo Enrile has extensive experience and extensive knowledge of the sector. Lucía González also brings great availability and experience.’

‘It is a very versatile office which offers a quality service, with knowledge of the matter, and a very satisfactory quality-price ratio.’

‘From the team I would highlight Francisco Fenoy and Óscar Murillo.’

Key clients








Eland Private Equity SGEIC S.A.







Work highlights

  • Provided advice to RIC Sun on the sale of a portfolio of nearly 1GW power capacity to Qcells and on the sale of a portfolio of projects of total power capacity of 470MW to an international investment fund.
  • Advised Prodiel in the sale of a 1GW portfolio of renewable energy project to ENEL (subsidiary of Endesa in Spain).
  • Advised BANKIA on the various milestones in the financing of a photovoltaic project. This was the first project in Spain financed by a 100% merchant bank.

Osborne Clarke

Under the leadership of Luis Castro, Osborne Clarke handles a range of energy-sector M&A, regulatory matters and project development. 2020 saw the team advising on a large number of 'greenfield projects for the development of solar and wind plants. The team was bolstered by the arrival of experienced senior associate Fernando Carretero in December 2019.

Practice head(s):

Luis Castro

Other key lawyers:

Fernando Carretero; Alvaro Mengotti; Ana Isabel Lozano; Raquel Blanco; Blanca Montero


The team is very well organized internally with specialists in each area that impacts energy projects and the renewables business. They are very well coordinated through the main partner Luis Castro.

The treatment is always excellent and as it is a firm specialized in projects and energy, they have a record track and a very solid experience in all the areas we need to deal with.’

The OC team has extensive knowledge in energy regulatory matters in addition to extensive experience in advising on transactions in renewable energy assets.’

Direct contact with the customer. Great knowledge in regulatory, administrative and real estate law. I would highlight the following lawyers: Luis Castro, Alvaro Mengoiti, Fernando Carretero, Ana Isabel Lozano, Raquel Blanco and Blanca Montero.’

They have a cohesion between the team members that facilitates the advising of transversal projects.’

They give a very quick response when asked to do so. It is what I value the most. They always get on the phone.’

In considerable knowledge and experience, which other firms do not have. Experience is something to be especially highlighted. They never leave any matter unattended.

Key clients

Hive Energy, Ltd.

Foresight Group

Univergy International, S.L.

Innogy Spain, S.A.

Nara Solar, S.L.

Quintas Energy, S.L.

Soto Solar Spain, S.L.

Preneal Group.

Compañía Energética Aragonesa de Renovables, S.L.

Banco de Sabadell / Sinia Renovables

Work highlights

  • Advised Hive Energy and White Light in the sale of the 88% of the shares of Olmedilla Hive and Sabinar Hive (i.e. photovoltaic solar projects jointly amounting to 421MWp) to Noy Infrastructure & Energy Investment Fund.
  • Advised Foresight on the acquisition of Spanish companies WPD Parque Eólico El Poleo and WPD Parque Eólico Las Panaderas from WPD Group.
  • Advised Quintas Energy in relation to a €43m green bond notes issuance.

Pinsent Masons LLP

Pinsent Masons LLP's energy and infrastructure expertise spans contentious and non-contentious matters, and the team has recently advised on a number of solar projects in Spain. Practice head Pablo Dorronsoro, who has a strong background in litigation and arbitration, focuses on the energy, infrastructure and technology sectors.

Practice head(s):

Pablo Dorronsoro

Other key lawyers:

Borja Martín Ariza; Marta Salazar Díaz

Key clients

Enagás, S.A.

WElink Energy Ireland Ltd.

Talasol Solar, S.L.U.

Ellomay Solar, S.L.U.


Solaria Energía y Medio Ambiente, S.A.

Elecnor, S.A.

Work highlights

  • Advised Enagás on the acquisition of a stake in Tallgrass Energy from Blackstone and GIC.
  • Provided legal advice to international investor WELink on the development, acquisition and subsequent sale of a 133MW PV project in RTB status, located in Puerto Real and Jerez.
  • Provided legal advice to Talasol Solar in the framework of the construction of a 300MW solar plant located in Talaván, Caceres and its evacuation line.

PwC Tax & Legal Services

PwC Tax & Legal Services stands out for its regulatory and administrative law knowledge in the energy sector. The team also has an impressive track record in litigation, including before the superior courts. Practice head Fernando Calancha Marzana has acted as arbitrator in disputes involving energy and water companies. Director Reyes Gómez Román is also noted.

Practice head(s):

Fernando Calancha Marzana; Ana Rodríguez Cantarero

Other key lawyers:

Reyes Gómez Román; Ramón Vázquez del Rey Villanueva; Carlos Saavedra Rodríguez


‘The team is very balanced in its knowledge, experience and proximity to the concerns of the sector at all times. It shows flexibility and the ability to adapt to customer needs.’

‘Fernando Calancha is exceptional in terms of training, experience and resolve, especially with regard to renewable energies. An authority on the matter. Reyes Gómez Román stands out very positively.’

‘Comprehensive knowledge of the subject and associated regulations. They compare favorably.’

‘Ramón Vazquez: Experience and knowledge in the field.’

Key clients










Work highlights

  • Provided advice to HEINEKEN (commercial, regulatory, economic, accounting and tax) throughout the process for the signing of a Power Purchase Agreement (PPA).
  • Advised on the claims submitted to the Council of State during the processing of the draft regulation on the methodology and conditions of access and connection to the grid of facilities, drafted by Spanish CNMC.
  • Provided advice to ORANGE ESPAGNE (commercial, regulatory, economic, accounting and tax) throughout the process for the signing of a Power Purchase Agreement (PPA).

Simmons & Simmons

Simmons & Simmons has continued to develop its energy practice since the arrival of practice head Juan Martinez Calvo in 2018, and has recently added a large number of new clients to its roster. The multi-disciplinary team advises on a range of contentious and non-contentious matters, including project financing and contracts.

Practice head(s):

Juan Martínez Calvo

Other key lawyers:

Verónica Ester; Guillermo Pérez Almendral; Sara Moreno


‘One of the partners that the Simmons & Simmons team has in Madrid is Verónica Ester, a State lawyer, who has developed part of her professional career in the European Union and her knowledge and experience in community affairs makes her very competitive compared to others dispatches.’

‘The entire Simmons team stands out for a pragmatic attitude always oriented towards solving problems, excellent attention to the needs of its clients, and a writing style that is concise and clear, avoiding unnecessary obstacles. They give clear opinions and take responsibility for them.’

‘Juan Martínez, Guillermo Pérez and Sara Moreno are recommended.’

Key clients













Work highlights

  • Advising GHK as sponsor of the Guipúzcoa Waste to Energy facility including the co-generation production plant.
  • Advising on the development and financing of three solar farms.
  • Advising Repsol on the downstream contract drafting, including EU general resolutions about this kind of contract.