King & Wood Mallesons (KWM) has advised the Portuguese energy company EDP on its agreement with the Asturian industrial group Corporación Masaveu (Masaveu) to convert the Aboño coal plant in Asturias to gas fired. As part of the agreement signed yesterday, both groups will share ownership (50%) of the facility, which until now was owned by the EDP Group.

The transaction is part of EDP's commitment to be coal free by 2025. Aboño consists of two coal groups (Aboño I and II), with a combined capacity of 904 MW, and plays a key role in supporting the security of electricity supply to Asturias.

The KWM lawyers coordinating this project were Corporate Partner Roberto Pomares, Senior Associate Gonzalo Fernández (Corporate) and Associate Elena Torrecillas (Corporate).

The rest of the KWM team includes: partners Gonzalo Olivera (Energy) and Carlos Gil (Labor); counsels Félix Hernández (Financial), Fernando Jiménez (Fiscal) and Alberto Artés (Energy); senior associate Sandra de Andrés (Labor); and associates Elena Gonos (Energy) and Pilar Lorenzo (Real Estate).

EDP will continue with its project to build the Asturian green hydrogen valley. This project is one of the most important in Europe in this field and has obtained IPCEI accreditation from the European Union. In addition, it is the only project in Spain included in the four lines of support that the European Union has for green hydrogen projects.

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