DWS Group Acquires 147 MW Solar Portfolio in Spain with Legal Counsel by Watson Farley & Williams

Watson Farley & Williams (WFW) provided legal counsel to DWS Group (DWS) in its recent acquisition of a 147 MW solar photovoltaic portfolio from X-ELIO, consisting of three plants located in Medina de las Torres, Badajoz, Spain. These projects, operational since mid-2023, are expected to annually supply renewable energy equivalent to the needs of approximately 91,800 households.

Headquartered in Frankfurt, Germany, DWS is an asset manager with a longstanding history of infrastructure investments since 1994. As part of its Alternatives platform, DWS’s private infrastructure business encompasses private equity infrastructure and debt solutions, boasting €15 billion in assets under management as of December 31, 2023.

X-ELIO, a company owned by Brookfield, specializes in the development, construction, financing, and operation of renewable energy projects globally, including Spain, Italy, the United States, Latin America, the Middle East, Japan, and Australia. With over 19 years of experience and 2.8 GW of assets built, X-ELIO is committed to sustainability efforts, including reducing greenhouse gas emissions and combating climate change.

The WFW Madrid Corporate team, led by Partner and Madrid office Head María Pilar García Guijarro, played a pivotal role in advising DWS on the acquisition. The team, which included Senior Associate Javier Ruffín and Associate Pablo Manchado, received support from Regulatory Partner David Díez, Senior Associate Alejandro Martínez, and Associate Paula Pérez.

María Pilar expressed her satisfaction with advising DWS on this significant transaction, emphasizing its contribution to strengthening DWS’s presence in Spain’s renewable energy sector. The partnership between DWS and X-ELIO underscores WFW’s reputation as a leading law firm in Spain for expertise in large-scale renewable energy deals.