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WElink Group sells PV project

Published by
Energy Global,

Multinational law firm Pinsent Masons has advised WElink Group, an international provider of renewable energy and low-carbon construction solutions, on the sale of its 133 MW Puerto Real 1 project in Spain.

Asset manager Capital Dynamics acquired a 100% equity stake in the project through its subsidiary Clean Energy Infrastructure business located in Cadiz, southern Spain.

The project site is located in Cadiz province in the Spanish southern region of Andalusia, and the solar farm is scheduled to start commercial operations in 1Q2021. Once operational, the Puerto Real 1 project is estimated to reduce greenhouse emissions by over 175 000 t – the equivalent of powering almost 30 000 homes for a year. Over the lifetime of the project, the site will employ up to 300 workers, many from the local area.

The Pinsent Masons Madrid team advised WElink in all related matters of the project, including:

  1. Preparing and updating due diligence report.
  2. Regulatory advice necessary for the development of the project and the project agreements.
  3. Interconnection agreement and incorporation of EIG.
  4. Expropriation procedures.
  5. Real estate matters.

The firm also advised WElink in its previous acquisition of the project from Ansasol, and its development until RTBS.

Partner Pablo Dorronsoro led the transaction working closely with Partner Idoya Arteagabeitia, Senior Associates Marta Salazar and Gabriela Camuñas, Associates Javier Alagón, Olimpia Ortega and Mar Cabrera, and Lawyer Pedro Gila.

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