ARPA Abogados Consultores has advised Caja Rural de Navarra and Caja Rural de Soria on the sale of their shareholdings in Compañía Eólica de Tierras Altas (CETASA) to Enel Green Power España (EGPE), a subsidiary of ENDESA.
With this transaction, ENDESA reaches 100% ownership of CETASA after acquiring from Caja Rural de Soria and Caja Rural de Navarra their 37.5% and 25% stakes, respectively. The company’s valuation was set at around €60 million, subject to the customary adjustments in this type of transaction.
CETASA has a portfolio of 99 MW of operational wind farms in the province of Soria, with an annual output of approximately 240 GWh, as well as an additional 30 MW under development. Overall, the transaction will allow EGPE to strengthen its position in the Spanish wind market, contributing an estimated annual EBITDA increase of around €10 million.
The deal is aligned with ENDESA’s strategy to consolidate its leadership in renewable energy, both through operating assets (brownfield) and new developments. The company reached an installed renewable capacity of 10.79 GW in Spain in the first half of 2025.
About Caja Rural de Navarra and Caja Rural de Soria
Caja Rural de Navarra is a leading credit cooperative in northern Spain. With a strong territorial presence and more than 60 years of history, it provides financial services to individuals, businesses, and cooperatives, maintaining a firm commitment to the economic and social development of its region.
Caja Rural de Soria is a cooperative financial institution with strong ties to its territory. Its activity focuses on supporting individuals, SMEs, and the agri-food sector, driving sustainable projects and initiatives that contribute to the economic growth and social cohesion of the province.
About Endesa
Endesa is the leading electricity company in Spain and the second-largest in Portugal, as well as the second-largest gas operator in the Spanish market. With around 9,000 employees, it develops an integrated business in electricity generation, distribution, and marketing, and is part of the multinational group Enel, a global leader in energy and renewables. The company is committed to the United Nations’ SDGs and channels its social efforts through the Endesa Foundation.
About ARPA
ARPA Abogados Consultores is a law firm with more than 30 years of experience and offices in Pamplona, Madrid, and San Sebastián. It is also a member of the Latiam and Eurojuris International networks, providing legal coverage in more than 60 countries. The firm currently has a team of over 90 professionals who support companies in their projects, offering comprehensive legal, economic, and tax advice, while providing value, trust, commitment, and security to its clients.
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