Baker McKenzie has advised Iberdrola on their alliance with Norges Bank Investment Management to co-invest 1,265 MW of renewable capacity in Spain.
This deal is part of a global agreement that will include the development and construction of 12 renewable assets, 3 wind farms (137MW) and 9 solar PV and wind farms (1,128MW) in Spain with the idea of expanding it to more countries in the short term. 
The Baker McKenzie team advising Iberdrola was led by partners Antonio Morales and Juanjo Corral in Madrid, supported by team leader Javier Méndez and associates Pablo García, Andrea Iraola and Manuel Somacarrera.   

Commenting on the transaction, Antonio Morales, Chair of the Madrid's office Energy Practice Group said, " We are delighted to have advised Iberdrola, a world leader and pioneer in renewable energies, on this transaction and strategic partnership with Norges Bank Investment Management. This project becomes a benchmark for other initiatives regarding decarbonization in Spain, and it is comprised within the policy of strategic agreements to boost the decarbonization of the economy that Iberdrola has carried out in recent years. Our unparalled expertise on sustainability and renewable energies, within our wide EMI practice, along with our profound transactional experience have been extremely valuable to assist our client in this initiative. Our most sincere congratulations to Iberdrola for achieving yet another strategic business objective."
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