Mazars advises Axpo on the sale of a stake in a Spanish wind park

Mazars has acted as a sell-side advisor for Axpo Services AG (“Axpo”) on the sale of its 46% share in the 33 MW La Peñuca wind farm in Spain to Cubico Sustainable Investments (Cubico).

The wind farm is located in in the Spanish region of Castilla y Leon, and has been operational since 2006. It consists of 22 wind turbines and can produce an average of 100 MWh of electricity per year. This plant joins the other 10 plants that Edison has in Campania, with a total capacity of around 300 MW.

This transaction follows the previous Axpo’s sale of a 66MW Italian wind farm to Edison in July 2022. The team of Mazars Energy, Infrastructure and Environment provided sell-side advisory services to Axpo also for this transaction.

Active in 30+ countries worldwide, Axpo is Switzerland’s largest producer of renewable energy and an international leader in energy trading and the marketing of solar and wind power.

Cubico Sustainable Investments is a major investor in the renewable energy sector. The company is backed by the resources of Ontario Teachers’ Pension Plan, Canada’s largest single-profession pension plan, and PSP Investments, one of Canada’s largest pension investment managers. Cubico’s global portfolio in 12 countries has an installed gross capacity of more than 3 GW, with 2 GW in construction and under development.

Mazars team

The Mazars team that advised Axpo was led by the partner Ben Morris, and by the directors Irena Karasamani and Guy Laufer. Mazars acted also as tax advisor, led by Anna Fernandez, Antonio Moreno and Ian Serrudo.

Axpo’s inhouse counsel team was led Head of Strategy Filippo Di Benedetto, Jorge Velasco Fernandez and Juan de Blas Antonio. The legal aspects have been followed by Watson Farley Williams with a team headed by Jaime Salazar Arrancudiaga.