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Key facts

  • 2.35 GW worth of power generation
  • 750k retail customers affected
  • 750 million euro deal

Customer Challenge

Viesgo is a Spanish power company operating in the regulated distribution market and the deregulated trading market. As part of a consortium with infrastructure investor Wren House, Viesgo’s owner Macquarie decided to sell Viesgo’s unregulated low-emissions electricity generation business to Repsol, a strategic investor in power retail and generation. The consortium hired Enzen to provide due diligence advice that would maximise the value of the sales process and pave the way to a smooth transaction.

Our Solution

As part of the deal, Repsol acquired the majority of Viesgo’s unregulated assets including Viesgo Supply, which has electricity and gas contracts with 750,000 households and businesses. Also included in the deal were 700MW of conventional generation hydro power and two combined cycle gas turbine plants with a total installed capacity of 1650MW.

Enzen delivered full IT vendor due diligence comprising a detailed view of the IT landscape, operations, contracts and critical aspects of post-sale management. Enzen also represented the vendor team at management presentations and participated in Q&A sessions to provide assurance to the Repsol team.

Outcomes delivered

Enzen supported the sale investor team in reaching a successful financial closure of the transaction.

Published: 13 Jun 2019