Addleshaws, Cuatrecasas, Herbies, Salans, Uría bag HgCapital portfolio

The private equity house has made an investment of e300m (£262m) in three projects in the UK and Spain through dedicated renewables fund HgCapital Renewable Power Partners.

Herbert Smith, one of four firms on HgCapital’s advisory panel, acted on its acquisition of a 50 per cent stake in Scout Moor, a 65MW onshore wind farm near Manchester. Corporate partner Henry Davey led the team acting for the buyer on the transaction, while Addleshaws corporate ­partner Michael Birchall advised developer and ­longstanding client Peel Energy on the sell side.

In Spain the fund added two solar energy assets to its existing Mercurio Solar portfolio, with Cuatrecasas and Uría snaring the ­advisory mandates.

Cuatrecasas relationship partner Federico Roig led the team acting on the acquisition of an operational 12MW project in Castilla La Mancha, developed by Naturener. The developer was advised by Salans ­corporate partner Jose Maria Buxeda.

Cuatrecasas acted for HgCapital on its original investment into the Spanish renewables market when it acquired an existing ­portfolio from AIG in 2009.

However, the fund turned to Uría for its investment in an 8MW solar project ­currently under construction in Murcia. Finance partner Juan Ignacio González Ruiz led the team on the transaction.

The investment of e300m takes the private equity firm’s total investment in renewable energy beyond the e1bn mark, with a portfolio that includes
19 projects.