Leading international law firm Herbert Smith Freehills has advised Interogo Holding, via its infrastructure fund Inter Infrastructure Capital (IIC), on an agreement to acquire 49% of a 1,066-megawatt (MW) portfolio of operational and under-construction solar photovoltaic (PV) generation assets within the BRUC group.
Interogo is a foundation-owned investment group that targets direct investments, mainly in Europe, across the infrastructure sector. Interogo's infrastructure investments are made by IIC, managed by Inter Fund Management, and advised by IH Infrastructure Advisors. BRUC is a renewable energy company founded in late 2015 by chairman Juan Béjar. At present the group manages a portfolio of 8,500 MW in Spain.
Through this transaction, Interogo, investing at asset level, will join OPTrust and Universities Superannuation Scheme (USS) who are existing investors within the BRUC group. The investment is subject to certain regulatory approvals and other customary closing conditions.
The Herbert Smith Freehills was made up of a joint team across London and Madrid, led by corporate partner Sarah Pollock, and included of counsel Miguel Fraga, senior associate Eliza Eaton, and associates Victoria Herce and Tihomir Svilanovic with the due diligence led by partner Iria Calvino.
Sarah Pollock comments: "We are pleased to have supported Interogo's IIC on its strategic investment in BRUC's assets. It demonstrates our strengths in combining deep knowledge of the renewable energy sector with our expertise in advising on complex transactions across multiple jurisdictions and through our global network."