Linklaters advises I Squared Capital on sale of Grupo T-Solar for EUR 1.5bn

Linklaters has advised I Squared Capital, a leading global infrastructure investment manager, on its agreement to sell Grupo T-Solar to Cubico Sustainable Investments Ltd, the renewable energy specialist jointly owned by Ontario Teachers’ Pension Plan and PSP Investments, for a total value of €1.5 billion.

A leading European renewables platform, Grupo T-Solar has 274 megawatts of installed and regulated capacity in Spain and Italy with growth prospects underpinned by a 1.4-gigawatt pipeline of solar photovoltaic projects. Last year, Grupo T-Solar’s projects generated over 602 gigawatt-hours of clean electricity and avoiding over 216,000 tons of CO2 emissions.

The Linklaters team advising on the deal was led by Will Aitken-Davies (London, Mainstream Corporate) with partners Alexander Kolb (Madrid, Mainstream Corporate) and Alejandro Meca (Madrid, Tax), counsel Jamie Coomber (London, Tax) and Peter McCabe (London, Mainstream Corporate), managing associate Jose Maria Lopez (Madrid, Mainstream Corporate) and associates Margarita De la Peña (Madrid, Mainstream Corporate) and Ricardo Lecaro (Madrid, Mainstream Corporate).

Linklaters advised I Squared Capital on the acquisition of Grupo T-Solar in 2016 and most recently on the purchase of the infrastructure division of GTT Communications, a leading global cloud networking provider to multinational clients, for $2.15 billion in October 2020.