Belgium headquartered Chroma Impact Investment and Sun Capital Development Partners based in Spain have signed a Share Purchase Agreement (SPA) with Univergy International S.L. for the acquisition of 100 percent of the share capital of Spain’s Univergy Islas Afortunadas SL.
The portfolio is located in the Region of Palencia (Castilla y León, Spain), having most of the projects a PLA status. Univergy International will continue to develop and construct the facilities of each of the projects by means of a development services agreement.
Univergy International is one vehicle of Univergy Solar, a leading group of companies in the renewable energy sector, specialised in the development and construction of large solar and wind energy plants. Through this transaction, the investors become the 100% owner of the projects and increase its installed aggregated capacity in Spain.
Mariscal & Abogados’ legal assistance covered all the acquisition procedure, including, legal due diligence, advice on the Spanish regulatory framework for renewable projects, transaction structuring, corporate issues and negotiating transaction documents (among others, development services agreements, EPC and OM).
On this transaction, Mariscal & Abogados acted as the legal advisors to Chroma Impact Investment and Sun Capital Development Partners with a team led by M&A/Energy partner Alberto Álvarez, together with senior associate Irene Terrazas and associates Jesús Alberto Martín, Isabel Prat and Salvador Gaitán.