Everwood acquires 15 Spanish PV installations

Everwood Capital S.G.E.I.C., S.A. has acquired 15 photovoltaic installations in Spain.

Ten of the installations are located at the 50 MW Olmedilla de Alarcón plant in Cuenca and five at the 900 KW Gerindote plant in Toledo. Everwood made the acquisitions via its SPV Everwood Fotovoltaica I SICC, S.A fund.

The acquisition of the 15 installations was financed by a combination of share capital and bank financing, arranged as a project financing.

Watson, Farley and Williams (WFW) advised Everwood on the acquisition and on the subsequent financing of the installations.

The WFW Madrid team was led by Spain Managing Partner and Corporate Head María Pilar García Guijarro, who commented:

“I’m delighted Everwood opted for WFW to advise them on these acquisitions. That Everwood has chosen to invest in Spanish renewables demonstrates the increasing attraction of the sector to investors following recent regulatory reforms. WFW’s strength in the renewables sector is firmly based on our ability to assist our clients throughout the entire life cycle of any renewables transaction”