Cerberus acquires two wind parks in Spain and may buy other four

Fund managed by Cerberus European Investments, LLC have acquired the wind farms Pujalt and Turó del Magre from in Catalonia (Spain) from Civis Corporación.

Exus Management Partners, a Madrid-based independent investment and asset management company focused on renewable energy sector, is buying together with Cerberus.

Sabadell Corporate Finance has exclusively advised the seller in the transaction.

Pujalt is a wind farm located in Pujalt and Calonge de Segarra municipalities (Catalonia, Spain), with 42 MW of total installed wind energy capacity distributed in 21 wind turbines with 2,060 equivalent hours per year. Turó del Magre is a wind farm located in Veciana, Copons I Argençola, Pujalt y Sant Guim de Freixenet municipalities (Catalonia, Spain), with 28 MW of total installed wind energy capacity distributed in 15 wind turbines with 2,620 equivalent hours per year. Both wind farms operate since March 2010.

Based in Barcelona, Civis is a Spanish Group with operations in several sectors sectors, such as construction, renewable energies as well as sport centers management.

Cerberus European Investments, LLC is the European subsidiary of the American prestigious funds management firm Cerberus Capital Management, L.P. Cerberus currently has more than $25 billion under management. 

Additionally, Spanish newspapers recently reported that Cerberus and Exus are also analyzing the purchcase of four other wind parks across Spain. The assets under study are: Loma del Capón wind park, in Granada (30 MW); Magaz wind park, in Palencia (30 MW); Sierra Sesnández wind park, in Zamora (20 MW), y Cova da Serpe II wind park, in Lugo (25 MW).

This transaction would be valued at €130 million. 

All four assets had too much debt and are being sold by the creditors. Sabadell is also acting as financial advisors to the sellers.