BlueFloat and Sener partner with Plenitude to develop offshore wind projects in Spain

Cuatrecasas has advised BlueFloat Energy and Sener Renewable Investments on the entry of Plenitude as a partner. This milestone will enable the three-year-old joint venture to advance the development of offshore wind projects in other autonomous regions of Spain.

The partnership between BlueFloat and Sener, leaders of the energy infrastructure market, forms a consortium that develops a total portfolio of 1.25 GW, with projects such as Parque Nordés in Galicia, Parc Tramuntana in Catalonia, and Parque Tarahal in the Canary Islands. The incorporation of the Italian company Plenitude strengthens this partnership with its experience and commitment to sustainable development.

In Spain, Plenitude manages 430 MW of solar PV and onshore wind power in operation, 1 GW of projects that are under construction, and over 2 GW of projects in development. The company also manages a network of electric vehicle charging points and provides electricity and energy services to over 300 thousand customers in the country. The company operates in 15 countries, with a portfolio of around 3 GW of renewable capacity in operations, an objective of 7 GW capacity expected to be in place by 2026 and over 15 GW by 2030.

“Thanks to this transaction, our client—BlueFloat Energy and Sener Renewable Investments—has created a strategic partnership with Plenitude (ENI) that will strengthen its leadership in the development of offshore wind projects in Spain,” remarked partner Federico Roig (Corporate and M&A), who led this transaction together with partner Irene Moreno-Tapia (Antitrust and Competition), and lawyers Miguel Ángel Castaño, Alfonso Coronel de Palma and Jaime Sepúlveda.