• Lynx Renovables Iberia FCR is a renewable energy investment vehicle fund managed by Intermoney

  • Intermoney, backed by parent company Grupo CIMD, is a financial services entity who bring over 35 years of experience in the Spain financial sector

  • A consortium of individual private investors led by Citania Operativa, a renewable energy management company, were seeking a buyer for a portfolio of renewable assets

  • The portfolio of c.9MW of solar photovoltaic (PV) and small-hydro renewable generation assets is fully operational and regulated under RD 413/2014 regime until the late 2030s


  • DC Advisory (DC) was engaged by Intermoney, under exclusive terms, to provide buy-side M&A advice to support its acquisition of the portfolio of assets

  • DC leveraged its knowledge of the sellers and the assets to guide Intermoney throughout the process


  • Intermoney entered into a definitive agreement to acquire 100% of the portfolio of assets, and the transaction closed in February 2023
  • This transaction demonstrates DC's expertise in the infrastructure services space, and strengthens the firm’s track record in advising on M&A and debt mandates in the renewables sector
  • The transaction is the largest acquisition made by Lynx Renovables Iberia FCR, and consequently fully invested its capital raised in 2020, with a total acquisition of 65MW of operating solar PV projects

“Our deep sector knowledge was a key contribution to the success of the transaction, and highlights DC Advisory’s ability to secure a bilateral transaction in a highly competitive market, like renewables."

Rodrigo de la Viuda
Managing Director, DC Advisory