Simpson Thacher represented Stonepeak on its acquisition of an interest in Generia Land, S.L. (“Generia”), a land platform dedicated to renewables, from Solaria Energía y Medio Ambiente (“Solaria”), one of Spain’s leading renewable independent power producers. Together, Stonepeak and Solaria will have joint ownership and governance of Generia.
Established in 2022, Generia is dedicated to sourcing, acquiring, and leasing land in Europe to renewable energy projects, including solar, wind, and battery storage. Generia has a multi-tenant strategy, sourcing and acquiring land for projects being developed by both Solaria and third-party developers. Generia currently has thousands of hectares of land, primarily in Spain and Italy, and will acquire additional land with Stonepeak’s investment. This land will support more than 4 GW of supported renewable energy projects. Stonepeak intends to continue to invest behind Generia’s strong near-term pipeline of growth opportunities, which is supported by Solaria’s broader goals of developing 18GW of capacity for multiple technologies by 2030.
The Simpson Thacher team includes Amy Mahon, Ciaran Cronin, Bella Sullivan and Neha Goyal (M&A); Sarah Lindley and Chris Dorman (U.K. Tax); Jonathan Goldstein and Jemma Li (U.S. Tax); Josh Buckland, Lina Kim and Alysha Hoare (Antitrust); and Deborah Gruen, Audrey Stern and Mark Guffanti (Funds).