Watson Farley & Williams (“WFW”) advised Solar Ventures and Genia Solar Energy on the sale of the Spanish Valle Solar photovoltaic (“PV”) to Saeta Yield, Masdar’s Spanish subsidiary.
Valle Solar, the largest PV project in Spain’s Valencia region, is at ready-to-build status and has a total capacity of 234 MW. It includes plans for a BESS hybrid project under development with a potential capacity of 259 MW to enhance grid stability.
Solar Ventures is an independent power producer (IPP) that develops, builds and finances utility scale PV plants worldwide, with a particular focus on emerging markets where it has been active since 2008.
Renewable energy engineering and promotion group Genia Solar has developed grid-connected projects that account for 2.5% of all power currently installed in Spain.
Madrid-headquartered energy company Saeta Yield manages a portfolio of 789 MW of wind and solar thermal energy in Spain and 144 MW in Portugal. It was acquired by Masdar, the state-owned Emirati renewable energy company also known as the Abu Dhabi Future Energy Company, in 2024.
The WFW Madrid Corporate team was led by Madrid Office Head and Energy Sector Head – Europe & Americas María Pilar García Guijarro, working closely with Senior Associates Jaime Salazar and Román Pazos and Associate Juan Lozano. They were supported on regulatory matters by Partner David Diez and Senior Associate Ignacio Soria and Associate Isabel Rodríguez de Codes.
María Pilar commented: “We are pleased to have advised on this landmark transaction, which not only highlights Spain’s status as a vital hub for energy projects, but also reinforces WFW’s role as key legal partner in major renewable deals. This is testament to our commitment to supporting sustainable investment and fostering long-term partnership with major sector players, such as Solar Ventures and Genia Solar Energy”.
Saeta Yield was advised by Broseta and Pérez-Llorca.
