WFW Advises Industrial Gas on Acquisition of 50% Stake in BPower
Biogas Plants
(Copyright text WFW/Will Salomone, reproduced with kind permission)
Watson Farley and Williams ("WFW") advised Industrial Gas BPower ("Industrial Gas") on its acquisition of a 50% percent stake in Biogás Power Generation ("BPower"), a company with extensive experience developing biogas and biomethane plants. The transaction is one of the first and largest biomethane deals in Spain.
This strategic acquisition establishes an alliance between Industrial Gas and BPower and its partners to develop, build and operate the company's project portfolio, as well as promote further expansion going forward at a time of rapid growth in Spain's biomethane sector.
Industrial Gas is a renewable energy investment firm focussed on biogas and biomethane.
BPower develops biogas plants with a focus on biomethane produced through the anaerobic digestion of livestock and agricultural waste, sludge from wastewater treatment plants and municipal waste. It currently has a portfolio of 17 biomethane projects under development in Spain, with an estimated production capacity ranging between 60 and 120 GWh per year.
The lead partners on both sides of the transaction have an outstanding track record in the energy and industrial sectors. B.Power brings together the investment vehicles of prominent industrial entrepreneurs Rubén and Marcos Clavijo,; recognised biomethane specialists Ángel and Marcos Revilla and his son; engineer María Díez, an expert in renewable development; and José Miguel Moraga, former CEO of Solarig. Industrial Gas is backed by the family offices of Carlos Delclaux father and son, Chairman and Director of Vidrala, as well as that of Álvaro Mengotti, a solicitor with extensive experience in renewable energy.
The WFW Madrid Energy team advising Industrial Gas was led by Corporate Partner Javier Ester, supported by Senior Associate Héctor Suárez and Associate Jorge Rodriguez. Regulatory advice was provided by Partner Luis González, along with Senior Associate Paula Pérez and Associates Rocío Saadeh and Claudia González. Partner Victoria Truchuelo provided the employment advice and Real Estate was supported by Associate Rocío Sebastián de Erice.
Javier commented:
"This transaction marks an important step forward in the development of Spain's emerging biomethane sector and demonstrates the strong investor interest in such projects. We are proud to have supported Industrial Gas in establishing a partnership that will enable the effective delivery of a robust project pipeline. This instruction further consolidates WFW's standing as a trusted advisor on deals involving the newest and most innovative sustainable technology, including advanced bioenergy and circular economy solutions".
