LAWFUEL – Law News Network – Iberdrola, Spain’s second largest energy company, has acquired (through its French subsidiary Iberdrola Energias Renovables) the French wind power company Perfect Wind for €52m. The acquisition is part of Iberdrola’s strategy to consolidate its position as the leader in wind power in Europe, particularly in France.
Detail: Perfect Wind has a portfolio of projects with a capacity of 600 MW, with 10 MW in a test phase and 86 MW in advanced development. The founders of the target will remain with Perfect Wind under a development services agreement. Iberdrola already has four wind parks that are operational in France, with a total capacity of 32 MW.
Comment: This acquisition is Iberdrola’s most significant transaction in France. It confirms our developing relationship with the Iberdrola group. Lovells currently assists Iberdrola Energias Renovables in six European jurisdictions in potential acquisitions and a wide array of legal matters, with Lovells Madrid coordinating our joint efforts and the relationship with the Iberdrola group. The Lovells Paris team, led by Robert Follie and Carole Arribes, with support from Christophe Bornes, Françoise Bigas, Caroline Varlet and Olivier Fille-Lambie, advised on all aspects of this transaction, including corporate, regulatory, property and finance.