Clifford Chance advised Grenergy Renovables, a Spanish renewables groups, on its acquisition of a 60% stake in U.S.-headquartered solar project developer Sofos Harbert Renewable Energy (SHRE). The transaction closed in February 2023 and increases Grenergy’s stake in SHRE to 100%.
The transaction follows the firm’s representation of Grenergy in 2022 on the acquisition of its initial 40% stake in SHRE, which allowed the Spanish operator and developer of solar and wind assets to gain a foothold in the growing U.S. renewable energy market.
The cross-practice team was led by partner Michael Bonsignore and supported by associates Stephanie Kilmer and Vicki Ye in New York and abogado Eduardo Sánchez in Madrid. Partner Paul Seraganian and associate Tomislava Dragicevic advised on U.S. tax matters.
