DLA Piper advises Victory Hill and Spanish Power on the financing of two new photovoltaic plants in Spain

DLA Piper has advised a joint venture formed by Victory Hill, a global investment firm specializing in sustainable energy, and Spanish developer Spanish Power, on a new strategic transaction in the Spanish market. On this occasion, DLA Piper has assisted the aforementioned joint venture in the financing of EUR35 million granted by Bankinter, S.A., for the construction of two photovoltaic plants with a total capacity of approximately 75 MW, located in the provinces of Burgos and Malaga.

Both projects form part of the portfolio of solar photovoltaic and wind assets acquired by the aforementioned joint venture in July 2024, with a total capacity of around 250 MW distributed between Spain, Portugal, and Sweden.

The DLA Piper Spain team was led by Pablo Echenique, Corporate Partner and Head of Energy, and José Marco, Finance Partner, with the collaboration of Felipe López and Ángel Ansorena, from the Finance department. Marcos Gil and Patricia Fernández-Bujarral, from Corporate, and Alberto Lobato, Senior Associate in the Tax department, also participated. Bankinter was advised by Cuatrecasas, with a team led by Agustín Cerdá.

“This new transaction consolidates Victory Hill’s commitment to the Iberian renewable energy market and reinforces our commitment to the energy transition in Europe”, said Pablo Echenique. “We are proud to continue supporting our clients in projects that combine innovation, sustainability, and long-term vision”.