WFW counsels Foresight over PV portfolio sale to Infranity

WFW counsels Foresight over PV portfolio sale to Infranity

Watson Farley & Williams ("WFW") advised Foresight Group ("Foresight") regarding a portfolio of 12 operating solar PV plants sale in Spain and Portugal to Infranity, a fund of the Generali Group. It included a combined installed capacity of 54.5 MWp. The portfolio is split between projects with long-term PPAs and merchant projects.

Foresight is a sustainability-driven alternative asset and SME investment manager with £12.5 billion AUM focussed on investing in ground-based solar PV and battery storage assets internationally. It was founded in London in 1984.

Infranity is an asset management business with its headquarters in Paris that specializes in the infrastructure industry.

Foresight received advice from the multidisciplinary WFW Madrid team regarding the transaction of Spanish company law elements. It was led by Mara Pilar Garca Guijarro, Corporate Partner and head of the WFW Madrid office. They were assisted by senior associates Javier Ruffin and Héctor Suárez, associates Jaime Salazar Arrancudiaga and Angel de Martin. Partner David Diez and senior associate Ignacio Soria provided regulatory knowledge. The team provided advice on the diligence procedure, the drafting and negotiation of the transaction agreements and closure of the deal.

Foresight's investment team, led by Iberia Carlos Rey Micolau, managing director, Alfonso Martnez Saramago, investment manager and Franco Imperial, investment associate, collaborated closely with WFW throughout the acquisition.

In a statement, Mara Pilar said, "We're happy to contribute Foresight, our appreciated and age-old client on this main deal in the Iberian markets. On their behalf we were able to bring to bear our unmatched know-how in energy sector and ability to work effortlessly across manifold jurisdictions."

Foresight's primary financial advisor was Royal Bank of Canada, which was represented by partner Nicolás Mazzoli, managing director, and colleagues Rodrgo Dáz de la Figuera and Bienvenido Lara.

Ura Menéndez served as Infranity's legal counsel and Sigrun served as its financial counsel.