Projects and energy in Spain

Clifford Chance

The broad multi-disciplinary practice at Clifford Chance covers all aspects of a project, particularly in relation to consumption regulation, litigation and infrastructure. The firm also has experience in thermosolar matters. The team is co-led by Jaime Almenar, whose specialities include energy regulation, telecoms, financial regulation and public procurement; José Guardo, who focuses on structured finance, energy and infrastructure; administrative procedures and corporate projects expert José Luis Zamarro; José María Fernández-Daza, who is known for advising on corporate M&A, restructuring, joint ventures and dispute resolution; Latam specialist Javier Amantegui, who advises on transactional matters and private equity; and Samir Azzouzi, who has experience in local and cross-border M&A. Also notable is senior associate Eduardo Sánchez, who assists in project transactions.


‘The CC team has outstanding experience and many years of dedication to such matters’

‘Their experience enables the team to tackle any issue you may send them with the comfort that they will provide you with a fast and accurate response’

‘Jaime Almenar has widespread knowledge of any legal topic that may arise and 24/7 availability’

Key clients

Iberdrola Group

Endesa Group

Redexis Gas

Banco Santander

Grupo Cobra

Solarpack Corporación Tecnológica



Corporación Financiera Alba

Gunvor SA

Work highlights

  • Advising Iberdrola on a range of regulatory matters such as self-supply, electricity payments capacity and remuneration of renewable energy.
  • Advising Endesa on litigation.
  • Acting for Redexis in an appeal against the award of several gas distribution authorisations in the Canary Islands.


Cuatrecasas is experienced in M&A, regulatory and project finance advice, with particular strength in the renewables, transport and infrastructure areas. The firm is also known for its Latam work, notably in cross-border financing transactions. Íñigo Rubio focuses on the financing of syndicated and structured infrastructure, as well as real estate projects. He co-leads the practice with Barcelona-based Héctor Bros, who specialises in project financing transactions and asset financing, and Luis Pérez de Ayala, whose expertise lies in administrative and regulatory law. Also well regarded in the field is Rafael Mínguez, who is known for international and national transactions.

Key clients


Saeta Yield

Fotowatio Renewable Ventures




Vela Energy

Acciona Energia


Banco Santander

Banco Sabadell





Dow Chemical

Work highlights

  • Advising Forestalia, Engie and Mirova on financing the construction and operation of ten wind farms and their evacuation facilities, totalling 342MW, in the region of Aragon.
  • Advising AIMCo on the acquisition from Oaktree Capital Management of an undisclosed majority stake in Eolia Renovables de Inversiones, a Spain-based company engaged in the development, construction and operation of wind farms and solar photovoltaic plants.
  • Advising Nafin on the first demand guarantee granted to Grupo Aldesa in connection with a credit facility for a maximum amount of MXN500m.

Herbert Smith Freehills LLP

The ‘hardworking and very committed team' at Herbert Smith Freehills LLP specialises in energy regulation, project financing and M&A-related work. The firm is also experienced in disputes and energy-related arbitration. The practice is co-led by Miguel Riaño, who focuses on energy, infrastructure, natural resources, environment and public law matters; Ignacio Paz, who is known for advising major corporations, financial buyers and public entities on domestic and international projects within the energy and infrastructure sectors; and senior associate Armando García-Mendoza, who is an expert in structured finance transactions, including project, leveraged, acquisition and real estate finance. The team was strengthened in 2018 by the arrivals of former state attorney José Ramón Mourenza as counsel and senior associate Eduardo Dachary from J&A Garrigues SLP. Also in 2018, Andrés Alfonso left for Ashurst LLP and Marta Sánchez-Vilallta joined Eversheds Sutherland Nicea.


‘Outstanding fees’

‘They have good relationships with some public administrations’

‘Very strong team with many years of experience in the industry’

‘They know how to face the different complexities that arise in deals’

‘Ignacio Paz is a very strong lawyer who not only has outstanding legal knowledge but also very strong commercial awareness. As a result he facilitates negotiations and provides solutions, making deals happen. He also has very strong relationships with different players in the industry’

‘Beatriz Plaza is very hardworking and detail oriented. You can always trust that the work will not have mistakes and she will always meet demanding deadlines. She also understands the commercial issues in the contracts.’

‘They have a good team to advise on a wide variety of matters’

‘The individuals are very devoted to the client and they are at client’s disposal to resolve any difficulty or legal need’

Key clients

Banco Santander



Rubicon Infrastructure Advisors


Antin Infrastructure Partners



Acciona Energía

Nexus Energía

Work highlights

  • Advised Antin Infrastructure Partners on a €427m financing granted by syndicate of financial entities led by ING Bank, as agent, for the purposes of acquiring and refinancing the existing indebtedness of Ufinet Spain (now Lyntia), a wholesale fibre infrastructure platform.
  • Advised Banco Santander on a complex restructuring transaction involving a €196.4m green loan facilities agreement (including bank lending and institutional tranches) and a €50m notes financing.
  • Advised Banco Santander on the €139m financing granted to Ence Energía Solar for the purposes of financing the acquisition of a 90% share of Iberdrola Energía Solar de Puertollano, the owner of a solar thermal power plant in Puertollano.


Garrigues is known for its expertise in the technical and economic aspects of transactions, as well as legal and regulatory matters related to the energy and infrastructure areas. Mónica Martín de Vidales and Álvaro López-Jorrín co-lead the practice, which also includes Marcos Botella, who advises on a range of structured financing and restructuring matters, particularly project finance in the area of renewable energies and infrastructure. Also notable in the team are senior associate Marta Clemente, who has expertise advising local and international clients on financing transactions; principal associate Jon Goirigolzarri, who focuses on financing transactions for renewable energy facilities, as well as public infrastructure; and principal associate Xabier Urtiaga, who is a banking and finance specialist.

Key clients



Banco Santander


Crédit Agricole




Eolia Renovables


Fotowatio Renewable Ventures (FRV)



Intesa Sanpaolo

Plenium Partners

Q-Energy / Vela Energy

Red Eléctrica de España (REE)

Renovalia Energy

Work highlights

  • Advised industrial gases company Praxair on the sale of its subisidiaries in Spain, Germany and France and its HQ business in Europe to Taiyo Nippon Sanso.
  • Advised Red Eléctrica de España on the acquisition from Abertis of 89.68% of the shares in satellite infrastructure operator Hispasat.
  • Advised Enagás on its acquisition of 10.39% of Tallgrass Energy.


Linklaters covers the spectrum of energy sector work, from regulatory advice for Spanish and foreign corporates to transactional matters in the areas of corporate, M&A, banking, projects and capital markets. The practice is co-led by José Giménez, who has broad advisory and contentious experience; Alejandro Ortiz, who is an expert in public and private M&A, as well as private equity; Lara Hemzaoui, whose expertise lies in national and cross-border M&A, corporate law, joint ventures, restructuring and capital markets transactions; and counsel Roberto Sánchez, who specialises in public law and regulated sectors. In a recent highlight, the team acted for Banco Santander, CaixaBank and Bankia in a claim against the government for damages related to the Castor gas storage facility.

Key clients






Vortex Energy (EFG Hermes)



China Three Gorges

Banco Santander

Work highlights

  • Advising two of the main Spanish subsidiaries of Repsol in complex litigation proceedings before the National High Court.
  • Advising AIMCo on the acquisition of a majority stake in Eolia Renovables from Oaktree Capital Management.
  • Advising Macquarie and Wren House (as controlling shareholders of the Viesgo Group) and the Viesgo Group (as the seller) on the sale of  conventional generation hydropower and CCGT plants, and the power and natural gas supply business of the Viesgo Group to Repsol.

Uría Menéndez

The ‘honest and professionalUría Menéndez is experienced in advising on project finance transactions, wind projects, solar photovoltaic plants and energy infrastructure. The firm specialises in M&A, finance and regulatory matters in the energy industry. Ángel Pérez López focuses on corporate matters, acquisitions and project finance. He co-leads the practice with Juan Ignacio González Ruiz, who has expertise in banking, energy law and project finance, and maritime and transport specialist Carlos López-Quiroga. Also notable in the team is corporate and commercial expert Carlos de Cárdenas Smith. María José Descalzo left the firm.


‘Very deep and up-to-date knowledge of regulations and the business’

‘Very strong in arbitrations’

‘Very adaptative to our needs and great flexibility’

‘Quick, reliable answers’

‘Anticipate potential problems’

‘Very honest and professional’

Key clients

Ence Energía y Celulosa, S.A.

Plenium Partners, S.L.

Cale Street Partners LLP

Banco Santander, S.A.

Mercurio Solar Tinajeros, S.L.

LAR España Real Estate Socimi, S.A.


CaixaBank, S.A.

Banco Bilbao Vizcaya Argentaria, S.A.

Banco de Sabadell, S.A.

Canada Pension Plan Investment Board (CPPIB) – and Allianz Capital Partners GmbH – Germany



Brookfield Global Renewable Energy Advisor Limited

Repsol, S.A.

Helia Renovables FCR (Plenium Partners)

Work highlights

  • Advising Repsol, as the seller, on the sale of a participation in the share capital of Gas Natural Fenosa.
  • Advising the buyer in the acquisition of a participation in the gas distribution business of Gas Natural Fenosa.
  • Advising the purchaser in the acquisition of Viesgo’s unregulated low-emissions electricity generation businesses and its retail gas and electricity business.

Allen & Overy

Allen & Overy specialises in cross-border renewables, thermal power and nuclear power, as well as regulated network assets and water. The firm also advises construction companies, governments and lenders on projects and project financings in Spain and abroad. The practice has experience in a range matters, from advising on joint ventures, project structures and legal due diligence to risk allocation, financing arrangements and security packages. The team is co-led by Pablo Mayor, Charles Poole-Warren, Iñigo del Val, Antonio Vázquez-Guillén, Fernando Torrente, Ignacio Ruiz-Cámara, Ignacio Hornedo and Jimena Urretavizcaya.


‘A multi-disciplinary practice that draws on different specialities’

‘Versatile lawyers with multi-disciplinary knowledge’

‘A&O has lawyers with very good qualifications. They are very well trained lawyers, who have a global vision of the issues and a marked commercial profile’

Key clients




Banco Santander

Contour Global



Contour Global




Eliantus Energy


Work highlights

  • Advised ContourGlobal on the acquisition of Acciona Termosolar.
  • Advised Masaveu, a shareholder in EDP via Oppidum Capital, on the takeover of EDP by China Three Gorges.
  • Advised Credit Suisse Infrastructure Partners on the acquisition of 49% of the Contour Global solar plants that were initially owned by Acciona.

Ashurst LLP

The multi-disciplinary team at Ashurst LLP brings expertise in litigation and public law to its energy and infrastructure practice, with particular experience advising international investors on financing greenfield projects in Spain. The firm is also known for M&A in the infrastructure area, as well as renewables work. The team is co-led by financial regulatory expert Manuel López and Andrés Alfonso, who joined from Herbert Smith Freehills LLP in 2018 and focuses on the energy and infrastructure sectors, including renewables. In a recent highlight, the department advised Macquarie on a joint venture agreement with Spanish developer Univergy, and on the acquisition by the joint venture company of more than 20 solar photovoltaic development opportunities in Spain, France and the Netherlands.

Practice head(s):

Manuel López; Andrés Alfonso


‘Availability, business vision, meeting deadlines’

Key clients

John Laing


Construcciones y Auxiliar de Ferrocarriles (CAF)

Hitachi Europe

Sociedad de Economía Mixta Los Tranvías de Zaragoza S.A.


Deutsche Bank



SG Equipment Iberia


Rivage Investments

Cobra (ACS)



Work highlights

  • Advising Green Investment Group (part of Macquarie) on its joint venture company with Tuma Energy.
  • Acting for Endesa Distribución Eléctrica in proceedings before the Audiencia Provincial of Cádiz as a result of the claim for damages filed by the insolvency administration of Obras y Construcciones Alcalá Sur against Endesa.
  • Advising Canadian Solar on the financing of the acquisition and development of four solar power projects.

CMS Albiñana y Suárez de Lezo

CMS Albiñana y Suárez de Lezo focuses on financing in the infrastructure and energy sectors, particularly M&A transactions for foreign and local clients. The firm has strong connections with investment funds, as well as public sector bodies. César Albiñana and Luis Miguel De Dios lead the practice.


‘Deep knowledge of regulation and business’

‘Practical approach to solving the problem’

‘Proactive and common-sense advice’

‘They know perfectly the needs of the client, its activity and requests and draw up a particular strategy in a proactive way to give the best advice to the client’

Key clients

Universities Superannuation Scheme Limited (USS)



Brookfield Asset Management

Iberdrola Group

General Electric Renovables España


Wirsol Solar

British Petroleum (BP)

Redexis Gas

Wind To Market


Work highlights

  • Advised German investment fund Luxcara on the acquisition of a 100% stake in the company holding the rights to develop a 121MW photovoltaic plant in Seville.
  • Advised Iberdrola in relation to a challenge to the new remuneration framework for renewable generation facilities.

DLA Piper

Specialising in cross-border matters, DLA Piper provides energy sector experts in a range of disciplines, including M&A, regulatory issues, finance, antitrust and real estate. Javier Santos has expertise advising international and Spanish investors on project finance matters in the energy sector. He co-leads the practice with Javier Zapata, who focuses on finance and banking matters. Also notable in the team is César Herrero, who is particularly well known for Latam work.

Practice head(s):

Javier Santos; Javier Zapata


‘The attention and the professional skills of the law firm are exceptional.’

‘The team are always available to attend to any issue’

‘Cesar Herrero, Rocio Smith and Daniel Danes deserve a special mention’

Key clients

Iberdrola, S.A.

Grupo Suez



EDP Renovaveis

NextEra Energy

Unión Fenosa Gas

Red Eléctrica de España



Aquila Capital

Falck Renewables


Ardian Infrastructure Fund



Electrabel NV


Work highlights

  • Provided regulatory advice to Suez Group regarding different joint water supply companies.
  • Advised Engie on power purchase agreements in Spain.
  • Provided regulatory advice to Tesla on Spanish electric vehicles regulation.

Gómez-Acebo & Pombo

The ‘extremely efficientGómez-Acebo & Pombo is ‘diligent, fast and decisive’ in its advice, particularly in relation to energy sector regulation and public law. The firm has experience in litigation and arbitration in the area, as well as in project finance and M&A matters. 'Problem solverVerónica Romaní is ‘very knowledgeable’ in the energy and infrastructure sectors, as well as providing ‘extremely reliable, fast and efficient advice’. She co-leads the team with public law specialist Carlos Vázquez, who advises on energy, water, administrative and tax law issues, and Carlos Marina, who focuses on project finance matters.


‘Very result-focused and solution-oriented team’

‘Veronica Romani was outstanding throughout what ended up being a very long negotiation with several parties involved’

‘We trust them with everything. Their performance, in every project, is outstanding’

‘An extraordinary ability to find alternative solutions to existing problems. They get involved and defend their client’

‘Veronica Romani always stands out for her speed and intelligence in customer relations’

‘Juan Perez has the ability to protect his client by explaining what are the real risks and their probabilities of occurrence’

‘Veronica Romani is the best lawyer in the renewable practice in Spain right now. She is a good leader with the client and pushes all the necessary matters through to close the deal’

Key clients

Cubico Sustainable Investments

Endesa, S.A. (Esp)

Eni Iberia, S.L. (Esp)

Naturgy (Esp)

IBC Solar (Ger)

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)

Work highlights

  • Advised on the restructuring of Abengoa.
  • Representing many international investors in Energy Charter Treaty related arbitration claims against the Kingdom of Spain for damages arising from the retroactive amendment of the legal framework applicable to renewable energy installations.
  • Advised BNP Paribas, Bankia and Banco Sabadell on structuring the financing of the biggest photovoltaic plant currently under construction in Spain.


MVA ASOCIADOS has 'deep expertise in energy', particularly in relation to litigation matters. The firm specialises in the regulated sectors: as well as energy, infrastructure is a key area. The practice brings its expertise in competition and public law to bear, acting for Spanish and multinational clients. Javier Montalvo focuses on power, renewables and natural gas. He co-leads the practice with public law expert Gervasio Martínez-Villaseñor, who has broad experience acting before the contentious administrative courts, the Constitutional Court and Court of Justice of the European Union, challenging regulations and authorities’ decisions.


‘The team transmits confidence, in-depth technical knowledge and an ability to translate this expertise into pragmatic, hands-on actions’

‘Eduardo Abril is an excellent lawyer: he is pragmatic, sharp and quick, and thinks outside the box when needed. He has always met deadlines and has shown good negotiation and communication skills, both in Spanish and English’

‘They have an incredible knowledge of administrative and environmental law and sound knowledge of the solar industry sector’

‘Gervasio Martínez-Villaseñor is an incredible administrative lawyer with a great capacity to assist with projects’

‘MVA ASOCIADOS perfectly understands the needs of the client and they deal with orders with great professional rigour’

‘MVA stands out for its great knowledge of the Spanish energy sector, its capacity for analysis and its customer orientation’

‘Gervasio Martínez-Villaseñor and Gonzalo Rubio stand out for their extensive business expertise’

Key clients

Repsol Group

BP Spain Group

Viesgo Group

Red Eléctrica De España

Total Gas Y Electricidad España

Engie Spain

Naturgy Energy Group, S.A.

RWE Supply & Trading Gmbh

Nordex Spain

Acer (Agency For The Cooperation Of Energy Regulators)

Planta De Regasificación De Sagunto (Enagas Group)

Hanwha Q Cells And Hanwha Energy

Foresight Group

Work highlights

  • Advising Repsol in relation to the repowering of Aguayo Hydroelectric Plant, located in Cantabria.
  • Advising BP on a secondment basis on all aspects of its activities in the gas, oil and power sector in Spain.
  • Acted for Viesgo before the Spanish and European courts in a wide variety of matters.


Pérez-Llorca specialises in the regulated sectors, particularly the energy sector, where the firm advises on transactional work, demergers and asset sales. As well as corporate energy transactions, the practice focuses on regulatory advice, project finance and litigation. The team is co-led by José Ramón de Hoces, who focuses on administrative and regulatory matters in the energy sector; former state advocate Elena Veleiro, who was promoted to partner in 2019; Javier Carvajal, whose expertise includes takeover bids, M&A, restructurings and IPOs; Pablo González Mosqueira, who advises national and international clients on corporate transactions; and banking and finance expert Ander Valverde. Also notable is Alejandro Alberte, who joined from Herbert Smith Freehills LLP in 2018 and brings experience in advising on M&A corporate transactions.

Key clients

Red Eléctrica de España S.A.

Gas Natural

Viesgo Renovables S.L.

Hidroeléctrica del Arnoya

Met Energía España

Oaktree Capital Management

Marguerite Fund

I Squared Capital


Solarpark Corporación Tecnológica

Work highlights

  • Advised Oaktree Capital Management on the sale of up to 100% of the share capital of Eolia Renovables de Inversiones to the Canadian fund Alberta Investment Management Corporation.
  • Advised I Squared and T-Solar on all the Spanish legal aspects of the acquisition of all the shares held by Genera Avante (Inveravante Group), Ibereólica and InfraRed in two Spanish companies which own two solar thermal plants with a total installed capacity of 100MW in Olivenza and Morón.
  • Advised a special purpose vehicle of Marguerite Fund on the €125m project financing of the design, construction and operation of a 49.913MW biomass power plant located in the province of A Coruña.

Watson Farley & Williams LLP

The energy-focused team at Watson Farley & Williams LLP covers all aspects of transactions in the sector and is considered a ‘reference point for energy in Spain'. The firm has particular expertise in greenfield assets and the renewables market. The ‘always available and responsiveMaría Pilar García Guijarro specialises in corporate, commercial and financial advice. She co-leads the practice with Rodrigo Berasategui, who has a focus on energy, particularly renewable energy technologies. Also notable is regulatory expert David Diez, who advises operators in the energy sector.


‘David Diez Marcos is, in my opinion, the best energy lawyer in Spain. Any complex issue that might arise, he is the right person to solve it’

‘WFW is a very dynamic and lean company’

‘WFW knows the renewables market very well and they are able to give introductions to different market participants’

‘María Pilar García Guijarro knows the market and market participants very well and was very helpful in selecting a preferred bidder and finding connections in the banks to move a transaction on’

‘Jose Maria Anarte has a very hands-on approach and takes the lead on various matters, especially the management of transactions with other counterparties and lawyers in various jurisdictions’

‘High-standard service provided by a professional team at all levels of the firm in Spain’

‘WFW have been able to position themselves as market leaders in energy and that can be seen in how practical and up to speed they are in every matter’

‘Always the right attitude when providing their legal advice’

‘Team spirit across areas helps them provide truly comprehensive advice’

Key clients

Northleaf Capital Partners

Copenhagen Infrastructure Partners (CIP)

RIVE Private Investment

OPDE Investment España

Q-Energy / Vela Energy


Ontario Pension Trust

Macquarie Capital Europe

Greenalia Wind Power Eolo Senior

Platina Partners


Work highlights

  • Advised Northleaf on the acquisition of Project Mula, a 493MW ready-to-built photovoltaic project in Murcia, from Cobra Concesiones and the subsequent project financing.
  • Advised CIP on the acquisition of a 360MW portfolio of renewable wind assets under development from Forestalia.
  • Advised Capital Dynamics and Instituto de Credito Oficial (ICO) on their joint acquisition of a 24.5% stake each in the Spanish Talasol project, a photovoltaic plant with a total nominal capacity of 300MW.

Baker McKenzie

Baker McKenzie specialises in litigation, M&A and regulatory work across the energy sector, including renewables, gas and water. Practice head Antonio Morales joined from Latham & Watkins LLP in 2019 and is known for his expertise in energy matters, as well as arbitrations in the international, national and regional courts. His team advised Ferrovial on all public law matters related to the acquisition of a company that owns and operates ten hydroelectric power stations and two ferroalloy factories.

Practice head(s):

Antonio Morales


‘B&B have excellent knowledge of the sector and their reports and suggestions of action are always the best option’

‘We have always been very satisfied with the response to our needs from the B&B team’

Key clients





Saeta Yield

InfraRed Capital Partners



Fiera Capital

Work highlights

  • Advised InfraRed Capital Partners on the acquisition of the rights, licences and permits for the development, construction and operation of eight greenfield photovoltaic projects located in southern Spain, for an aggregate value of €10m, from Bester Corporate.
  • Acted for Cyopsa-Sisocia in three different appeals regarding the rejection of three claims for payment made against the Spanish Ministry of Public Works and Transport in relation to public road construction, due to the extra costs borne by the client.
  • Advised BP Group on the acquisition of over 65 petrol stations in Spain from JZI Fund by means of the purchase of 100% of the share capital of Kingbook Inversiones and Petrocorner Retail.

Bird & Bird

Known for multi-jurisdictional transactions, Bird & Bird advises on energy M&A, particularly in relation to Latam deals. As well as providing expertise in renewables projects, the firm is active in a range of infrastructure matters, representing public and private sector players. Hermenegildo Altozano specialises in energy, advising on transactions and projects in Spain and Latin America, with an emphasis on investment protection and arbitration advice. He co-leads the team with expert litigator Coral Yáñez, who represents international and Spanish companies in administrative proceedings relating to a range of regulatory matters.

Key clients

Cerberus Capital Management, L.P.

Grupo Gransolar

Renovalia Energy Chile

Cerberus Capital Management, L.P.

Ib Vogt Gmbh

Praxair Spain

Renovalia Energy , S.A.



Work highlights

  • Advised Cerberus on the sale of a loan portfolio to Arbor Investment Management, a subsidiary of the investment fund Incus Capital, for the development and construction of photovoltaic plants in Extremadura.
  • Assisted Gransolar and several private investors in the sale of a portfolio comprising 19 photovoltaic plants in Seville to Vela Energy.
  • Advised Renovalia Energy Chile on the sale to Grupo Disa of two photovoltaic solar plants with a combined capacity of 6MW located in Atacama Desert, in Chile, for a total amount of $6m.

Jones Day

The global energy, projects and infrastructure team of Jones Day is known for its finance capabilities, particularly in relation to projects in oil and gas, renewables, biomass, hospitals, water treatment and distribution. The firm also brings multi-disciplinary strength to energy matters. The practice is co-led by Fernando Lillo, who advises on acquisition, lending and structured finance, specialising in the infrastructure and renewable energy markets; banking, projects and acquisition finance expert Javier López Antón; Mercedes Fernández, who focuses on civil and commercial matters; and Raimundo Ortega, who combines knowledge of EU and competition law with experience advising on energy regulatory issues.


‘The projects team is great’

‘The team perfectly combines mastery of the subject, good treatment and disposition towards the client, and the creativity to reach a satisfactory outcome for the parties’

‘Sergio Cires has a lot of experience in project financing and knows how to co-ordinate a multi-disciplinary team in a very satisfactory way’

‘The team stands out from other offices in terms of its experience and ability to work in English’

‘Working with them gives me security and peace of mind’

Key clients


Athos Solar GmbH

Banco Bilbao Vizcaya Argentaria, S.A.

Banco de Sabadell, S.A.

Banco Santander, S.A.

BNP Paribas Fortis, S.A./N.V.

Bow Power

CaixaBank, S.A.


Enèrgya VM (Grupo Villar Mir)



Work highlights

  • Represented BBVA and corresponding members of a larger syndicate in connection with the sale of a €198.5m project financing for the construction, maintenance and management of a 49.9 MW thermosolar plant located in Badajoz.
  • Represented Banco Santander and corresponding members of a larger syndicate in connection with the € 105m debt restructuring of the Viastur toll road in the north of Spain.
  • Represented the joint venture between Sacyr Group and 3i Group, which was incorporated to support investment in the Autovia del Turia toll road in Valencia.


Specialising in energy and natural resources, DWF-RCD's expertise includes M&A, regulatory work, administrative proceedings, litigation, tax advice and project finance. The practice works closely with other key departments within the firm and is particularly known for its experience in the development and financing of turnkey clean-tech projects. Energy law expert Javier Olmos leads the practice.

Practice head(s):

Javier Olmos


‘The most important aspect is the empathy of the team with the problems that may occur’

‘Practicality in approaching matters’

‘Flexibility when assessing legal issues’

‘Immediate availability to address issues’

Araoz & Rueda

The ‘very commercialAraoz & Rueda is ‘highly skilled in energy projects' and ‘able to grasp the important aspects of the deal’. The firm has particular expertise in the promotion, construction, financing, start-up and operation of renewable energy projects, especially photovoltaic plants. The ‘exceptionalFrancisco Solchaga leads the practice and has a ‘good commercial understanding of the business that allows him to provide good legal technical solutions’.

Practice head(s):

Francisco Solchaga


‘Francisco Solchaga is very approachable. He has a deep understading of the latest developments in the sector as he works with the main players’

‘They work very closely with the client and ensure a good understanding of the legal questions’

‘A&R manages to keep an excellent relationship with other counterparties involved in the transaction’

‘An in-depth knowledge of the legal questions and able to bring about innovative solutions adapted to the needs of the company’

‘They are able to suggest several solutions and alternatives in a very short period of time, adapting the legal advice to the rhythm of the client company’

‘Deep knowledge of energy law in Spain, especially in relation to renewable energy’

‘Reputed law firm well known by all key players in the sector, such as developers, utilities, banks and so on’

‘As this law firm’s strengths I would highlight their global, 360-degree understanding of the matters assigned to them, and their commercial approach to the negotiations, going beyond the pure legal and technical aspects of the discussion’

‘Francisco Solchaga is on top of all the aspects of the transaction. He is very good at channelling and co-ordinating the different parts of the law firm working on a specific matter’

Key clients



Aurea Capital

Vela Energy

Canadian Solar


Huertas de Binipark

Dosa Renovables

Oxital España



Work highlights

  • Advised Dosa Renovables on the sale to Repsol of five greenfield photovoltaic projects.
  • Advised a Spanish promoter group on the sale of a portfolio of 19 greenfield projects.
  • Advised Everwood Capital on the acquisition of a photovoltaic project of 40MWp located in Corvera, Murcia, from Gransolar.


Cross-border specialist Dentons is experienced in a range of energy and natural resources projects, particularly renewables. The firm is known for its expertise in industrial gas infrastructures and trading, as well as renewable power production assets development. In addition, the practice advises on oil exploration and production based in Spain. Javier Lasa leads the team and focuses on representing energy and renewables companies in matters including regulatory proceedings, financing, corporate transactions and energy-related litigation work.

Practice head(s):

Javier Lasa

Key clients

Aten Oil

Work highlights

  • Advising Aten Oil on a complex combined merger and spin-off transaction.

EY Abogados

EY Abogados ‘provides top-quality advice’ and regulatory expertise, notably in M&A-related matters in the energy sector. Regulation and public law specialist Félix Plasencia ‘makes the difference’. He co-leads the practice with Pablo Tramoyeres, who has experience in corporate, commercial and contractual law. The team is providing advice to Acciona in its challenge before the Supreme Court against the royal decree regulating the fee for the use of continental waters for the production of electric energy.


‘Covers advice with a high level of quality in practically all areas, including public law and private law’

‘Successfully assumes the defence of matters in various jurisdictions’

‘Remarkable experience in the judicial field’

‘Felix Plasencia is recommended in the field of public and regulatory law, and Antoni Frigola Riera in the field of civil and commercial law’

‘The main strength of the EY energy team is its leader, Felix Plasencia, who is a first-class lawyer and has unique expertise in all aspects of an energy-related transaction, particularly with respect to administrative law’

‘EY is my first port of call for a new transaction, particularly for the more complex, challenging ones’

Key clients

Acciona Energía

Acciona Green Energy


Eolia Renovables De Inversiones, S.R.C.

Jealsa Energía

Energía De Galicia, S.A.

Engasa Eólica, S.A.

Unión De Distribuidores De Electricidad, S.A.

Sampol Energía

Administración Del Estado (Ministerio De Agricultura – Mancomunidad De Canales Del Taibilla)


Kira Renovables S.A.

Work highlights

  • Representing Acciona Green Energy against a claim brought by Smurfit Kappa over apparent infringements of an agency contract.
  • Representing Engasa Eólica in arbitration before the Civil and Mercantile Court of Arbitration of Madrid (CIMA) relating to the turnkey construction contract and the operation and maintenance contract of Xiabre’s wind farm.
  • Advising Jealsa regarding regulatory matters and changes of applicable legislation, such as the impact of the royal decree on urgent measures for energy transition and the protection of consumers.

Freshfields Bruckhaus Deringer

Freshfields Bruckhaus Deringer

King & Wood Mallesons

The ‘swift and preciseKing & Wood Mallesons covers the range of work in the energy sector lifecycle. The firm advises on transactional and non-transactional matters related to energy and infrastructure, with particular experience representing Chinese clients. Practice head Gonzalo Olivera is an expert in public law and the regulated sectors, specialising in energy and infrastructure work.

Practice head(s):

Gonzalo Olivera


‘The team work together very well’

‘Deep knowledge of current issues and of topics being discussed’

‘Gonzalo Olivera masters all energy-related laws and decrees’

‘Alberto Artés’ diligence in preparing documents stands out. He thinks outside the box.’

‘The team is very business-oriented and with a very good track record in M&A and energy projects’

‘Gonzalo Olivera and Alberto Artés are always available’

Key clients

EDP Group


GALP Group

Acciona Concesiones

First State



Capital Dynamics

European Investment Bank



Shanghai Electric Power


Chint Group

Wuling Power Corporation



Work highlights

  • Advising Galp on its day-to-day gas and electricity trading business.
  • Providing ongoing legal advice on the day-to-day energy business of EDP Group.
  • Advising the European Investment Bank on the financing of two portfolios of wind farms in Spain (with a total installed capacity of 194MW), partially backed by a power purchase agreement.

Latham & Watkins LLP

Latham & Watkins LLP specialises in advising on the regulatory and commercial aspects of the energy sector. Antonio Morales left to join Baker McKenzie in 2019.

Squire Patton Boggs

The international practice of Squire Patton Boggs provides 'personalised attention, availability and proactivity'. The firm has expertise in project finance, particularly in the renewables area. In addition, the practice is known for project bond financings. Manuel Mingot has experience advising banks, sponsors and developers on a range of project financing transactions related to the energy, infrastructure and natural resources sectors. He co-leads the team with Antonio Canadas, who focuses on multi-jurisdictional financings, and Tomas Cerdan, who leads the English law desk and is known for project and leveraged finance transactions.


‘Ability to provide assistance in different countries with the same quality of service and customer service, at a reasonable cost’

‘They invest in the relationship with the client’

‘Magnificent integration with the client team, providing accurate advice’

‘The service at Squire Patton Boggs stands out for the professionalism and commitment given to our company’

Key clients

Ibereólica, S.L.

Solaria Energía Y Medioambiente, S.A.

Esparity Solar UK (Holdings) Ltd.

Petroleos De Venezuela, S.A. (PDVSA)

Acciona Energía Internacional, S.A.

Bondholders, S.L.

Obrascón Huarte Lain (OHL)

Nextera Energy Services


Work highlights

  • Advising Esparity Solar on project development matters regarding its plan to develop and finance a market-parity 1GW solar pipeline in Spain with a €1bn funding plan.
  • Advised listed solar developer Solaria on the amendment of the terms and conditions of the €45.3m project notes issued by Globasol Villanueva, listed on the Alternative Fixed-Income Market (MARF).
  • Advised Grupo Ibereólica on project development matters relating to its wind portfolio in Chile and Peru.

BROSETA Abogados

BROSETA Abogados specialises in litigation, particularly in relation to alternative energy projects, including solar, wind, waste-to-energy and cogeneration projects. The firm also has a range of experience in advisory work, notably in transactional matters. Practice head Rosa Vidal has expertise in administrative contracts for public-private partnerships, representing national and international companies.

Practice head(s):

Rosa Vidal

Key clients

Juwi Energías Renovables, S.L.

BP Oil España, S.A.U.

Energy Investment & Consultancy

Depuración De Aguas Del Mediterráneo

Esparity Solar


Alcanzia Energía

Work highlights

  • Advised Juwi Energias Renovables on land lease contracts, contracts for the provision of services, contracts for the construction of photovoltaic turnkey plants and corporate matters.
  • Advised Esparity Solar on due diligence in relation to the construction of photovoltaic plant in Spain. 

GTA Villamagna Abogados

GTA Villamagna Abogados has experience in the construction and operation of power plants, as well as advising on regulation in the renewable energy market. The firm also has expertise in direct power purchase agreements (PPAs) and litigation in energy and natural resources matters. Ernesto García-Trevijano focuses on issues relating to thermosolar, biomass and photovoltaic energy production plants in Spain. He co-leads the team with Marta Plaza, who advises public authorities and private companies in energy and natural resources matters.

Key clients

FCC Industrial E Infraestructuras Energéticas, S.A.

Inabensa (Abengoa)

Ithaka Partners, S.L.

Técnica Y Naturaleza, S.A.

Valoriza Servicios Medioambientales, S.A. -Cadagua, S.A., And Valoriza Servicios Medioambientales, S.A. -Boremer, S.A.

Seridom Servicios Integrados Idom, S.A.

Unidad Sindical Usuarios Del Júcar

Compañía Hidroeléctrica De Los Regantes Del Canal De Aragón Y Cataluña, S.A.

Ence Energía Y Celulosa, S.A.

Valle, Ballina Y Fernández, S.A.

Work highlights

  • Advised Ithaka Partners on the acquisition of four photovoltaic plants and two more ongoing acquisitions.
  • Advising Valoriza Servicios Medioambientales-Cadagua (UTE Butarque) and Valoriza Servicios Medioambientales-Boremer (UTE Sur) on the reversion of the installations due to the resolution of the administrative contract consisting of the construction and operation of two thermal sludge drying units in Madrid.
  • Acting for Unidad Sindical de Usuarios del Júcar in relation to challenges brought by the autonomous community of Castilla-La Mancha and the administration of Albacete to the royal decree approving the revision of the hydrological plan for 16 Spanish river basins, in order to maintain its validity.

Hogan Lovells International LLP

Hogan Lovells International LLP provides expertise across a range of energy and natural resources industries, from oil and gas to electricity and renewables. The practice specialises in regulatory advice and works closely with the firm’s corporate M&A and project finance groups. In addition, the firm has experience in key energy market locations in Europe, the US, Asia and the Middle East. Santiago Garrido leads the team and is known for his regulatory expertise and background in public law.

Practice head(s):

Santiago Garrido


ONTIER has particular strength in the renewable sector, as well as being increasingly active in PPAs. In addition to regulatory experience, the firm advises on the sales and acquisitions of energy projects and provides expertise in cross-border matters, including advising international funds investing in the area. Commerical and corporate specialist Bernardo Gutiérrez de la Roza co-leads the practice with Pablo Enrile Mora-Figueroa, who focuses on civil, corporate and procedure law, and associate Lucía González, who advises on transactional matters.


‘Commercial and solution oriented’

Key clients

Eliantus Energy, S.L.

Iberdrola Renovables, S.A.

Braux Energy Group, S.L.

Vela Energy, S.L.

Cox Energy Solar, S.A.

Sonnedix Cox Energy Development, S.L.

E.E.W. Eco Energy World Holdings Limited

Quadran International, S.A.S.


Abo Wind España, S.A.

Work highlights

  • Advising Eliantus Energy on the acquisition of solar power plants in operation in Spain.  
  • Advising EEW Eco Energy World Holdings on new renewable energy projects in Spain.
  • Advising Vela Energy on the due diligence process of nine photovoltaic plants in operation in Spain, as well as on negotiating the purchase and sale of the plants.

PwC Tax & Legal Services

Commercial, litigation and regulation specialist PwC Tax & Legal Services has particular experience in PPAs and M&A issues in the energy sector. The firm also provides a consultant team in energy. Fernando Calancha Marzana focuses on the energy and water industries and is known for his expertise in regulatory and dispute resolution matters. He co-leads the team with tax, corporate and restructuring expert Ana Rodríguez Cantarero.


‘The PwC team offers global support for different disciplines: technical, legal, commercial, negotiation and market analysis’

‘Reyes Gomez Roman shows excellent capabilities and experience. She has the specific qualities which make understanding these topics easy and the skills to negotiate with the internal legal resources of the customer’

Key clients

Grupo Iberdrola


Asociación De Empresas Para El Desimpacto Ambiental De Los Purines (Adap)


Grupo Disa

Asociación Empresarial Eólica (AEE)



Ecosos Canarias




DS Smith


Work highlights

  • Advised BBVA on commercial, regulatory, economic, accounting and tax matters relating to a PPA.
  • Advised Alfanar on its regulatory strategy and relationship with the Spanish regulator and administration.
  • Advised Adap and five of its associates on proceedings before the Spanish Supreme Court challenging the ministerial order which led to a halt in production of 29 plants and the closing and liquidation of some of them.

Ramón y Cajal Abogados

The 'multi-disciplinary team’ at Ramón y Cajal Abogados is ‘capable of resolving complex issues which require knowledge in different areas of expertise. The firm is experienced in M&A and regulatory issues, as well as project finance and contracts work. The practice is co-led by Pablo Silván, who has regulatory expertise in the energy and natural resources areas; project finance specialist Javier Menchén; and Antonio de Mariano, who specialises in the renewable energy sector, particularly photovoltaic and biofuel matters.


‘Our experience with Ramon y Cajal Abogados has been totally satisfactory’

‘The strengths of this legal team are mainly related to the capability to offer reliable and quick solutions, working with an interdisciplinary team but always having a sole interlocutor’

‘They had the capability to understand the specificity of the client to focus the task in a very personal way’

‘They do not offer general conclusions but ad hoc ones tailored to the characteristics of the client’

‘Strong knowledge of the legal implications of the task’

‘Experience and knowledge of the sector’

‘The partner we work with is always available and his attitude is very proactive and helpful’

‘Partners are very business oriented’

Key clients




Capital Energy

Banco Santander


Banco Sabadell


CEEES (Spanish Confederation Of Operators Of Service Stations)

APPA (Spanish Renewable Energy Association)

Work highlights

  • Advising Banco Sabadell on the project financing provided to Norvento Enerxía for six wind parks in Galicia.
  • Advising Banco Santander on the refinancing of Fotovoltaica los Navalmorales’ debt.
  • Advising Solaer on the sale of a 60% share in Solaer Holding, which has a portfolio of photovoltaic projects located in several jurisdictions.

Simmons & Simmons

Simmons & Simmons focuses on financing in the infrastructure and energy sectors, particularly M&A transactions for foreign and local clients. The firm has strong connections with investment funds, as well as public sector bodies. Practice head Juan Martinez Calvo joined from Deloitte Legal in 2018 and brings expertise in advising funds, contractors, lenders and public bodies on infrastructure and energy matters.

Practice head(s):

Juan Martinez Calvo

Key clients


Sanitas PFI Hostipals

Ferrocarrils Generalitat


Forus Deporte Y Ocio


Banco Santander


Agencia De Obras Públicas De Andalucía

ACS Cobra

Centene/Ribera Salud

Work highlights

  • Advising AOP on the legal structuring of the operation and maintenance contract for the Jaén tramway.
  • Advising the Torrejón de Ardoz Hospital PPP on a variety of matters.
  • Advising Ferrocarrils de la Generalitat de Catalunya on various regulatory matters, including the Adif tariffs for the use of the national rail network and train operator regulatory requirements.