Global law firm White & Case LLP has advised Solaria Energía y Medio Ambiente (Solaria) on its €300 million accelerated bookbuild.
The funds will help transform Solaria's strategy, evolving from a leading independent solar power producer in Europe into a multi-technology renewable energy platform and Data Center Powered Land (DCP Land) business, with the ambition of reaching 9 GW of total installed capacity by 2028. They will be used to deploy 3.4 GW of secured capacity in five countries and increase growth in hybrid battery energy storage systems (BESS) and wind, where Solaria aims to invest €770 million of equity to hybridize its solar parks with wind and battery storage solutions.
The transaction represents 10 percent of Solaria's share capital and was met with strong demand from high quality institutional investors globally, with the order book covered 6.7 times across the price range and attracting broad international participation, including long-only funds, infrastructure investors and specialist energy accounts.
The offering has been priced at €24 per share and the structure allows Solaria to simultaneously strengthen its balance sheet, enhance liquidity and optimize its capital structure, increasing free float while maintaining a disciplined approach to shareholder value.
The White & Case team in which advised on the transaction was led by partner Javier Monzón and local partner Lucía Quiroga (both Madrid) and included partners Inigo Esteve and Laura Sizemore (both London), local partner Julia Villalón (Madrid), associates Victoria Paternina (Madrid) and George Davie (London) and contract lawyer Bob Lehner (New York).
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