Clifford Chance

Clifford Chance advises ACS on the disposal of its photovoltaic power business to GALP

Clifford Chance has advised the ACS group on the sale of its photovoltaic power business in Spain to the Portuguese energy company Galp.

The deal includes existing photovoltaic​ plants (with a capacity of circa 900 MW) and projects that will be developed in coming years (2020, 2021, 2022 and also 100 MW for 2023), for a total capacity of 2,930 MW. The transaction is valued at €2.2 billion (enterprise value) and will generate a €330 million profit for ACS.

The Clifford Chance team was led by corporate partner Luis Alonso and projects partner José Guardo, under the coordination of the corporate head partner Javier García de Enterria. It also included, from the corporate department, senior associate Pablo Murcia and associates Pablo Hernandez and Patricia Arribas and, from the projects department, senior associate Eduardo Sanchez and associates Marta Martinez and Juan Ignacio Guillen.