Watson Farley & Williams LLP > Madrid, Spain > Firm Profile
Watson Farley & Williams LLP Offices
MARIA DE MOLINA, 4
28006 MADRID
Spain
Watson Farley & Williams LLP > The Legal 500 Rankings
Spain > Projects and energy Tier 1
Watson Farley & Williams LLP‘s energy department is a popular choice among leading investment funds, sponsors, financial institutions, banks, energy companies, developers and construction companies for its ‘its practical approach and extensive knowledge of the sector and the developments that affect it’. Led by María Pilar García Guijarro, the team is particularly well regarded for its expertise in the structuring and negotiation of transactions for the acquisition of large portfolios of greenfield projects and the financing of renewable projects. Finance specialist Rodrigo Berasategui supports these efforts, working alongside David Diez, a regulatory law expert. Key changes to the team include the arrival of Victoria Truchuelo from Allen & Overy and senior associate Ignacio Soria from Gómez-Acebo & Pombo.Practice head(s):
Other key lawyers:
Testimonials
‘Its practical approach and extensive knowledge of the sector and the developments that affect it.’
‘In the area it is essential to be up to date with the news that affects the sector with immediacy and detail. In this sense, no firm knows the renewable energy sector like them, given their proactive participation in it.’
Key clients
Cerberus Capital Management
CDPQ
CIP
CPPIB
Falck Renewables
Helios Energy Investment
Macquarie Capital
Noy Infrastructure & Energy Investment Fund
Octopus Renewables Infrastructure Trust
Ontario Pension Trust
Sonnedix
T-Solar
Q-Energy
Iberdrola
GALP
Saeta Yield
Acciona
FRV
Solaria
Cúbico
Work highlights
- Advised Caisse de dépôt et placement du Québec on its acquisition from Q-Energy group of a large-scale photovoltaic brownfield operating portfolio.
- Advised Vortex Energy on its acquisition of up to a 49% stake in Ignis Energy Holdings, which has a portfolio of 14GW renewable energy projects under development in Spain.
- Advised Copenhagen Infrastructure Partners (CIP) in relation to a portfolio of renewable wind assets under development with an aggregate capacity of 1,130 MW.
Spain > Capital markets: Debt Tier 3
Watson Farley & Williams LLP focuses on handling capital markets transactions aimed at the financing of renewable energy and infrastructure projects, including the renewal of EMTN programmes and the issuance of green and project bonds. The team is particularly experienced in cross-border transactions involving the UK, Germany and Ireland. Rodrigo Berasategui, a specialist in project financing, leads the practice.Practice head(s):
Rodrigo Berasategui
Key clients
Atlantica Sustainable Infrastructure plc
Q-Energy
ADIF
Banco Santander
Macquarie
Blackrock
EdR (Edmund de Rothschild)
Banco Sabadell
Work highlights
- Advised ADIF-Alta Velocidad on the renewal of its EMTN programme registered with the Central Bank of Ireland and Euronext Dublin for the financing of railway infrastructure.
- Advised Q-Energy on a €150m bond issue for the refinancing of a Spanish solar portfolio with a total installed capacity of 23.39 MW, with Banco Santander, S.A., Banco de Sabadell, S.A. and Bankinter, S.A. acting as bookrunners and placement agents.
- Advised Q-Energy on the private placement of English law governed bonds for an aggregate amount of €203m.
Spain > Commercial, corporate and M&A Tier 3
Watson Farley & Williams LLP counts its focus on the energy sector as a key distinguisher, frequently acting on industry specific asset and project acquisitions, MBOs, LBOs, joint ventures and debt restructurings, among other matters. Practice head María Pilar García Guijarro has also transacted M&A and private equity deals throughout Spain, Europe, the Middle East and Latin America.Practice head(s):
Maria Pilar Garcia Guijarro
Other key lawyers:
Ana Lorenzo; Gonzalo Aranzabal; Javier Ester
Testimonials
‘Ana Lorenzo very good lawyer with persuasive negotiation techniques. Legally sound.’
Key clients
Caisse de dépôt et placement du Québec (“CDPQ”)
Cerberus Capital Management
Copenhagen Infrastructure Partners (CIP)
Northleaf Capital Partners
Green Arrow Capital SGR (GAC)
Grupo T-Solar Global
Noy Infrastructure & Energy Investment Fund (“Noy Fund”)
Cubico
REDEN
Renewable Power Capital
Vinefield Capital
Vortex Energy
Helios Energy Investment
Sonnedix
Plenium Partners
Ventient Energy
Afcon Renewable Energy
R.Green Invest
Work highlights
- Advised CIP on the €1.2bn acquisition, from Forestalia Group, of a portfolio of renewable wind assets under development with an aggregate capacity of c. 1,130 MW, located in the autonomous community of Aragón, Spain.
- Advised Vortex Energy on its €625 million acquisition of up to 49% stake in Ignis Energy Holdings which has a portfolio of 14 GW renewable energy projects under development in Spain and a further 8 GW across the rest of Europe, North America and the Asia Pacific region.
- Advised Green Arrow Capital SGR (“GAC”) on the acquisition of a portfolio of solar PV projects under development in Spain with an overall expected capacity of 508 MW and a total value of €400m+ from Progressum Energy Development (PED), through its subsidiary Green Arrow Infrastructure of the Future (GAIF) Fund.
Spain > Environment Tier 3
Praised for its ‘availability, experience and extensive knowledge of environmental regulations,‘ the regulatory and environment team at Watson Farley & Williams LLP offers its clients full-service advice on all environmental matters. Particular areas of expertise for the practice include representing clients, including energy companies, in judicial proceedings before environmental administrations and regional authorities. The team also regularly advises financial institutions, real estate developers and energy companies on complex environmental matters. Luis González García and David Diez jointly head the department.Practice head(s):
Testimonials
‘Watson Farley & Williams is for my company the reference firm in matters of Energy, both in the regulatory and environmental fields. Their strong points include a deep knowledge of regulation and intense activity in the sector that provides them with a permanently updated vision of the state of the art and the situation of the Administration / the regulator. Likewise, the degree of seniority of the teams is high, so it is the partners themselves who provide a very important part of the advice. They show great empathy with the client and their availability is practically complete.’
‘WFW is an emerging law firm with a lot of human potential that makes it one of the benchmarks in the sector in environment and energy.’
‘Luis González differs from his competitors in the great final work he achieves, focused on the needs of the client, seeking excellence in the result and all this from a practical and very useful approach.’
‘To stand out above any other professional: David Diez Marcos. Additionally, Luis González García should also be highlighted.’
‘The availability, experience and extensive knowledge of environmental regulations.’
‘A lot of experience.’
Key clients
Banco Santander
Dos Grados Capital, S.A.
Copenhagen| |Infrastructure| |Partners| (CIP) – Maestrazgo |Cluster
Northland Power Spain Holdings S.L.U.
Enel Green |Power| España, S.A.
Fuerzas Eléctricas de Zaragoza, S.L.U. (Brial)
Banco de Sabadell, Banca March and Banco Pichincha España
Copenhagen Infrastructure Partners (CIP) – Project Catalina
Villar Mir Energía
Greenalia| |Biomass
Work highlights
- Advising Reciclados Palancia Belcaire on the potential sale of 100% of its share capital, which includes a concession for the municipal waste management in an administrative area of Valencia.
- Advising Villar Mir Energía on the administrative and environmental processing of two onshore wind farms in Aragón.
- Advising the financial entities led by Banco Santander on the financing of a 50MW biomass plant, located in Teixeiro (Galicia), promoted by Greenalia.
Spain > Private equity Tier 3
Watson Farley & Williams LLP, a multinational firm, demonstrates a keen-eye for energy and infrastructure-related deals, catering to a client base which includes private equity, investment, pension and distressed funds. Practice head María Pilar García Guijarro is often involved in MBOs, LBOs and joint ventures, among other transactions, and is noted for her proficiency within the natural gas, electricity and renewable projects fields.Practice head(s):
Maria Pilar Garcia Guijarro
Other key lawyers:
Ana Lorenzo; Gonzalo Aranzabal
Key clients
Caisse de dépôt et placement du Québec (“CDPQ”)
Cerberus Capital Management
Copenhagen Infrastructure Partners (CIP)
Northleaf Capital Partners
Green Arrow Capital SGR (GAC)
Grupo T-Solar Global
Noy Infrastructure & Energy Investment Fund (“Noy Fund”)
Cubico
REDEN
Renewable Power Capital
Vinefield Capital
Vortex Energy
Helios Energy Investment
Sonnedix
Plenium Partners
Ventient Energy
Afcon Renewable Energy
R.Green Invest
Falck Renewables
Acciona
FRV
Solaria
Work highlights
- Advised CIP on the €1.2bn acquisition, from Forestalia Group, of a portfolio of renewable wind assets under development with an aggregate capacity of c. 1,130 MW, located in the autonomous community of Aragón, Spain.
- Advised Vortex Energy on its €625 million acquisition of up to 49% stake in Ignis Energy Holdings which has a portfolio of 14 GW renewable energy projects under development in Spain and a further 8 GW across the rest of Europe, North America and the Asia Pacific region.
- Advised Green Arrow Capital SGR (“GAC”) on the acquisition of a portfolio of solar PV projects under development in Spain with an overall expected capacity of 508 MW and a total value of €400m+ from Progressum Energy Development (PED), through its subsidiary Green Arrow Infrastructure of the Future (“GAIF”) Fund.
Spain > Transport: Other transport Tier 3
Watson Farley & Williams LLP‘s maritime, aviation and transport practice is distinguishable for its multidisciplinary offering to clients in the aviation sector. Under the leadership of Alfredo Cabellos, the practice is also recognised for its ‘unique wide-body aircraft acquisition‘ expertise, with a further focus on the insolvency, registration and financing of commercial aircraft and private jets. Also noted is senior associate Laura Cadenas, who has close to 17 years of experience in financing matters applicable to the shipping and aviation sectors.Practice head(s):
Other key lawyers:
Laura Cadenas; Louise Mor; Patrick Moore
Testimonials
‘Quick response time to queries. Polite and professional team.’
‘WFW, in particular Alfredo Cabellos, Patrick Moore and Laura Cadenas are of tremendous help in negotiating new and used aircraft purchase and lease contracts.’
‘Louise Mor is always available, very reliable and professional.’
‘Very responsive, very friendly, very helpful team.’
‘Certainty, precision and sharpness in the knowledge of the national legal framework. Great business sense; support in contact with relevant industries necessary for the completion of a transaction.’
Key clients
Macquarie Rotorcraft Leasing Holdings Limited
Avolon Aerospace Leasing Limited
Era Helicopters
Deutsche Bank
Banco Santander
Orix Aviations Systems Limited
Work highlights
- Advising a syndicate of five banks on the restructuring of the Spanish debt of a Brazilian port in a complex ECA-backed, cross-border transaction.
- Advising Dunas Capital Group on the acquisition of a new Airbus A321LR NEO aircraft to be leased to Transportes Aéreos Portugueses.
- Advised Alpha Trains on the Spanish aspects of its multimillion cross-border and multi-jurisdictional financing.
Spain > Transport: Shipping Tier 3
The asset and structured finance team at Watson Farley & Williams LLP is noted for its capabilities in insolvency, restructuring, commercial contracts, maritime infrastructure and vessel finance. With niche expertise in the aquaculture sector, the firm advises a range of shipowners and banks in the industry, while also featuring charterers and P&I in its client portfolio. Transport expert Alfredo Cabellos heads the practice, spearheading the firm’s tax and structured finance offering, while Jose María Pery is often involved in purchase and sale agreements and construction transactions. Senior associate Laura Cadenas is another key contact.Practice head(s):
Other key lawyers:
Key clients
UBS
Alsaker
Havila Kystruten
ABN AMRO
Edda Wind ASA
Caixabank
DNB
Nordic Trustee
Work highlights
- Advised Fiskebas Fishing Company on the implementation of a tax lease structure in Spain for the construction, acquisition, finance and exploitation of a mid-water trawler.
- Advised Havila Kystruten Operations on the dispute before the English High Court in relation to the financing of two vessels to be built in Spain by Astilleros de J. Barreras which were cancelled.
- Advised Edda Wind and the lenders (UBS and ABN Amro) in relation to the Spanish aspects of the financing of an offshore support vessel under construction at Astilleros Gondán.
Spain > Banking and finance Tier 5
Project finance is a key area of expertise for the team at Watson Farley & Williams LLP, which is highly active in advising major Spanish and international banks on financings in the renewable energy sector in particular. The team also handles real estate finance, asset finance, acquisition finance, and debt refinancing and restructuring. Rodrigo Berasategui, who has notable expertise in transactions involving renewable assets and infrastructure, leads the team. José María Anarte, a project finance specialist, is also a name to note.
Practice head(s):
Rodrigo Berasategui
Other key lawyers:
José María Anarte; Pablo San Gil; Alfredo Cabellos; Antonio Cáneva
Testimonials
‘Excellent client care and knowledge.’
‘Watson Farley & Williams has a team of highly qualified professionals who contribute all their knowledge to the projects they work on. This is reflected in the execution and response times of their lawyers.’
‘Watson lawyers always provide truly high-quality advice and are always willing to give more. With Watson, we truly feel we are a team every time we work together. I would especially like to highlight the work of Alfredo Cabellos, who perfectly embodies this attitude.’
‘The team stands out for its availability and ability to work.’
‘A plus of the team is the quality of the service and advice. They have the ability to read a situation and understand it both from a legal and commercial point of view. They are the main support during a negotiation and the type of lawyers that you want to have on your side.’
‘The team has absolute availability and a professional attitude at all times and the ability to advise correctly, thus assisting the client in any circumstance.’
Key clients
Investec Bank
Banco Santander
Banco de Sabadell
Sonnedix
Østensjø Rederi AS, Edda Wind AS
Intership
Banca March
Kfw
Bayerische Landesbank
BNP Paribas
Kommunalkredit
Natixis
Iberdrola
ADIF
COFIDES
Atlantica Yield
Work highlights
- Advised Banco Santander on a €1bn green loan with a European export credit agency guarantee granted to Iberdrola for the financing of the acquisition of turbines for both onshore and offshore wind farm projects in Spain, Poland, Greece, Germany and the UK.
- Advised ABN AMRO and Commerzbank, as part of a syndicate of lenders including the European Investment Bank, on a €372m loan granted to Solaria for the long-term financing of a 736MW Spanish solar photovoltaic portfolio.
- Advised a banking syndicate led by Banco Santander, Banco Bilbao Vizcaya Argentina, Bankinter and Banco Pichincha de España on the financing granted to Aldton Invest, Duncanhill and Dantrell Invest for the sale and leaseback of 27 supermarkets from Mercadona.
Spain > Real estate and construction Tier 5
Able to draw upon the firm's corporate, finance, regulatory and tax practices, Watson Farley & Williams LLP is well placed to assist clients throughout the entirety of the property life cycle. The practice also assists in lettings, acquisitions and regulatory matters and is particularly experienced in the hotels and leisure and infrastructure sectors. Pablo San Gil leads the team and advises real estate funds, lenders and financial entities on a breadth of operational and financial restructurings. At the senior associate level, Aranzazu Arizcun Muñoz advises renewable energy companies on real estate mandates. Ignacio Cacho is also a name to note.
Practice head(s):
Pablo San Gil
Other key lawyers:
Key clients
CaixaBank
Frux Capital
Credit Agricole Corporate & Investment Bank
Banco Santander
Banco Sabadell
BNP Paribas
Arcano Partners
Banco Pichincha de España
Jar Capital
Work highlights
- Advised a banking syndicate formed by several banks, including Banco Santander, as lenders on the financing granted to Aldton Invest and others for a sale and leaseback deal.
- Advised Jar Capital, an investment fund located in Switzerland, on the acquisition of a residential building located in Madrid for the full refurbishment and subsequent sale of refurbished flats.
- Advised Banco Santander in connection with a financing granted in favour of VIVENIO PROMOCIÓN for the development and construction of a residential project (build to rent).
Spain > Tax Tier 5
Watson Farley & Williams LLP is highly regarded for its expertise in handling tax matters within the renewable energy and transportation sectors, advising a client base of banks, institutional and private equity funds, foreign shipowners and international leasing companies. The team has established expertise in assisting the tax structuring of M&A and project finance transactions in the renewable energy industry, and on asset finance lease transactions in the maritime and aviation sectors. Practice head Luis Soto has extensive experience in handling the tax aspects of corporate and financing transactions, often with cross-border elements.Practice head(s):
Luis Soto
Other key lawyers:
Javier Gabiña
Testimonials
‘What stands out is the presence of the partner, Luis Soto, throughout the entire project.’
‘I would like to highlight the team’s ability to adapt to the demanding deadlines of our operations and the technical quality they offer in tax matters compared to other similar offices.’
Key clients
Copenhagen Infrastructure Partners
Green Arrow Capital SGR (GAC)
La Banque Postale
Opdenergy
Union Española de Empresas Fotovoltaicas (UNEF)
BBVA
Natixis
Banco Sabadell
Elawan Energy
Naviera Living Stone (DEME)
RGreen
Work highlights
- Advised Opdenergy on the calculation of construction tax in the renewable energy sector.
- Advised CIP on the tax aspects of the development of a large-scale hydrogen production project.
- Advised Green Arrow Capital (GAC) on the tax structuring of the acquisition of a portfolio of solar photovoltaic projects under development in Spain.
Spain > Dispute resolution
Spain > Restructuring and insolvency
Watson Farley & Williams LLP > Firm Profile
Dedicated to client care, industry focus and investment in our people
We are a sector specialist international law firm in the Energy, Infrastructure and Transport sectors advising on complex transactions and disputes through local knowledge and an integrated international network.
Our business exists to help our clients achieve their goals, partnering with them to meet the challenges they face today and will face tomorrow.
Our values rest on developing deep and long-lasting relationships externally and internally through respect, sharing, communication and integrity.
We strive for excellence in all that we do and view investment in our people as key to achieving our business goals and values.
Our teams are integrated across legal disciplines and offices delivering consistently high levels of service locally and in combination across borders.
History: Sector focus has been at the heart of our strategy since we opened for business in 1982. Having started life as an asset finance boutique focussing on the maritime and aviation industries, our transport focus quickly expanded to other supply-chain led industries, most notably, renewable and conventional energy and infrastructure across these industries.
Through our offices around the world, we provide a full suite of services within our core sectors enabling us to deliver exceptional value to our clients.
Facts
- Founded 1982
- 200+ partners
- 700+ lawyers
- 19 offices
Senior Partner: George Paleokrassas
Managing Partner: Lindsey Keeble
Key Contacts
Aviation: Jim Bell, Charles Viggers
Energy: Malte Jordan, Henry Stewart
Infrastructure: Florian Kutzbach, Jose Maria Anarte
Maritime: George Macheras, George Paleokrassas
Mining & Commodities: Sumeet Malhotra, Jan Mellmann
Oil & Gas: Chris Kilburn
Lawyer Profiles
Photo | Name | Position | Profile |
---|---|---|---|
Maria Pilar Garcia Guijarro | María has more than 20 years of experience in the energy and infrastructure… | View Profile |