Ashurst Spain has advised the new investment solar platform formed by Alantra Solar
17 January 2023
17 January 2023
Global law firm Ashurst advised the new solar investment platform N-Sun Energy – investment vehicle of the partnership between Alantra and Solarig and supported by Reichmuth (Swiss infrastructure asset manager) and French asset manager Amundi – in the gradual acquisition of a solar portfolio with projects having a total capacity of 1.9 GW.
The portfolio - composed of more than 50 plants – is located in Italy (approximately two-thirds of the assets) and Spain (the remaining one-third). The plants will progressively reach Ready-to-Build (RTB) status within the next 18 months and ultimately be fully operative by the end of 2025.
Spain and Italy represent two of the most attractive markets in photovoltaics globally with a capacity of 30GW each, driven by reputable solar photovoltaic structures, strong sector tailwinds, and favourable financing conditions.
Ashurst advised the client with a cross-border team led in Spain by partner Andrés Alfonso, with associates Beatriz Aizpún, Pedro Díaz and Macarena Lozano, and tax partner Ricardo García-Borregón; and in Italy, by managing partner Carloandrea Meacci with partner Annamaria Pinzuti supported by associate Cristiana Montesarchio and trainees Giovanni de Camelis and Mariano Rossi. Senior associate Gianluca Di Stefano advised on regulatory aspects. Partner Michele Milanese supported by associate Federico Squarcia advised on the tax aspects of the transaction.