The ranking includes firms that have advised on renewable energy transactions (corporate) and includes asset acquisitions in general, provided that the transaction is at least EUR 1 million. It excludes joint ventures and intra-group deals.

Experts say there has been a boom in M&A transactions. The M&A market in the renewable energy sector in Spain has achieved significant growth. An optimistic scenario is foreseen in the short and medium term due, among others, to the great interest in subsectors such as wind and solar energy.

Fluctuating energy prices and interest rates represent an obstacle for investors, who reduced their activity at the beginning of the year. However, as 2024 draws to a close, lawyers are confident that it will be a good year, thanks to the completion of risk-controlled deals and an increase in smaller portfolios.

The relationship between energy supply and demand, along with the dreaded ‘curtailments’ (market operator-ordered outages that force PV and wind plants, as well as self-consumption facilities, to stop production for economic or grid capacity reasons), remain key factors influencing pricing and project profitability.

Source: Gómez-Acebo & Pombo