FTI Capital Advisors Guides China Three Gorges Through Two of Spain’s Largest Renewable Energy Deals of 2021
FTICA Serves as M&A Advisor on Acquisition of 181MW Operating Wind Portfolio from EDPR for €307 Million
Team Previously Advised CTG on Acquisition of 405MW Operating Wind and Solar Portfolios in Spain
Washington, D.C., Dec. 14, 2021 — FTI Consulting, Inc. (NYSE: FCN) today announced that FTI Capital Advisors (“FTICA”) served as M&A advisor to China Three Gorges (“CTG”) on its acquisition of a 181MW operating wind portfolio from EDPR for €307 million. FTICA also advised CTG earlier this year on the acquisition of 405MW operating wind and solar portfolios in Spain, playing a role on two of the five largest renewable energy deals in Spain this year.
CTG is one of the world’s largest energy companies, with total assets of $120 billion and more than 26,000 employees worldwide. Through this transaction, CTG will reinforce its presence in Spain, with 23 wind farms and 14 solar PV plants resulting in more than 1GW of renewable operating capacity. The transaction is subject to customary regulatory conditions.
Ignacio Herrero, Chief Executive Officer of CTG Europe, said: “This deal reflects our growing commitment with the Iberian market and builds on our will to support the Spanish energy transition. We believe Spain is one of the most active renewable markets, with the biggest potential in Europe and solid and reliable regulatory principles. We will continue to consider future opportunities to optimize our platform.”
The team advising on the acquisition and financing was led by Juan Carlos Raposo, head of FTICA in Iberia, and supported by Ernesto Plevisani, Javier Varez, Alejandro Barranco and Juan Carlos Herranz. FTICA has advised CTG on two of the five largest M&A deals in the renewable sector in Spain this year, including the acquisition of Corporacion Masaveu’s portfolio of 405MW, which was the largest operating renewable energy portfolio sold in the Iberian market over the previous two years.
Commenting on the transaction, Mr. Raposo said: “We are delighted to have supported CTG on their two landmark transactions in Spain this year, which reinforces their commitment to the renewable market in the country. We are proud of having helped CTG to reach its 1GW-plus renewable energy platform in Iberia. These landmark cross-border transactions strengthen the leadership of FTICA’s M&A team within the renewable energy sector in Europe.”
About FTI Capital Advisors
FTI Capital Advisors is a boutique middle market investment bank which specializes in M&A, capital raising, valuation and opinions, and special situations mandates across targeted industry sectors – including significant experience in the power and renewables sector, as well as in the telecommunications, media and entertainment, healthcare, retail and industrial sectors. FTI Capital Advisors Spain is backed by both global FTICA affiliates that offer investment banking services and the power of FTI Consulting’s worldwide network of professionals, which combines deep industry expertise with global investment banking and transaction execution experience to deliver value enhancing outcomes for our clients.
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Source: FTI Consulting, Inc.