Ashurst has advised Equitix, a leading international infrastructure fund manager, as legal counsel on COFIDES' direct co-investment of up to EUR 150 million in Equitix Summit Topco S.à r.l. and, consequently, its indirect investment in the "Summit" platform - a Spanish hybridisation platform designed to integrate onshore wind farms, solar PV plants, and battery energy storage systems (BESS) to deliver the next generation of low-carbon energy infrastructure across Spain.
COFIDES, Spain's state-backed manager of public investment funds, has joined this hybridisation platform as a new strategic investment partner. The investment is made through FOCO, Spain's €2 billion co-investment fund managed by COFIDES. COFIDES, Equitix, and its existing Australian institutional partner are jointly building the platform.
Created and managed by Equitix, this hybridisation platform targets at least 1.4 gigawatts (GW) of capacity by 2030 and currently comprises 330 MW of operational and under-construction assets - including two operational wind projects and five under construction - with an additional 200 MW in development across Castilla y León, Castilla-La Mancha, Aragón, and Navarra. All projects within the platform can be combined or hybridised with photovoltaic systems and/or battery energy storage systems.
The Ashurst team advising Equitix was led by partner Andrés Alfonso (Energy Transition), supported by corporate counsel Tannia Rodríguez and associate Marta Timoner. The Ashurst Luxembourg team was led by partner Jean-Philippe Smeets, assisted by senior associate Timothe Gras. English law matters were led by partner Gaby Jones, supported by senior associate Alicia Ingham.
