Overview

• WELink is a global renewable energy firm specialised in solar PV project development. WELink has established a highly successful development, EPC and O&M track record, having developed over 750MW solar PV assets globally
• SDCL was mandated to look at strategic options for their pipeline of 2GW+ in Iberia and support their transition to an IPP
• In addition, due to the new wave of unsubsidised greenfield projects in Iberia, it was essential to run a debt and PPA process alongside the main equity process

Approach

SDCL provided specialized strategic and financial advisory, including:

• Strategic review of Iberian markets/projects to support a revised group strategy;
• Review of company’s existing financial structure and options for growth;
• Drafting of all front end corporate finance materials (teasers, CIMS, financial models)
• Running a competitive capital raising process and coordinating due diligence efforts;
• Running a competitive debt financing and PPA process to secure multiple terms for the equity process, making the projects bankable at all levels; and
• Support in negotiations and closing of capital financing.

Outcome

• SDCL was able to deliver a successful outcome for WELink in a complex and competitive process to find a capital partner and reach financial close on one of the first unsubsidised projects in Iberia
• WELink entered into a framework partnership with the European renewables investor Allianz Capital Partners (“ACP”), which saw the latter make a c.€500m+ equity commitment to accelerate WELink’s continued expansion in Iberia