María José Descalzo represents Spanish and international clients on complex transactions, particularly within the energy and infrastructure sectors.

Ms. Descalzo combines extensive transactional experience with a sophisticated understanding of highly regulated industries, including regarding energy transition, to guide companies, infra funds, and private equity firms on:

  • M&A and joint ventures
  • Initial public offerings
  • Day-to-day corporate and regulatory advice

She regularly counsels clients on complex contractual and regulatory matters, including proceedings and reviews before the National Commission on Markets and Competition (CNMC), where she worked for five years. 

Ms. Descalzo helps clients unlock the resources of Latham’s global platform to seamlessly execute transactional strategy across jurisdictions.

Ms. Descalzo’s experience includes advising:

  • H2B2 Electrolysis Technologies, a Spain-based green hydrogen platform that provides solutions across the hydrogen value chain, on its business combination with RMG Acquisition Corp. III
  • Global Infrastructure Partners (GIP) and KKR on acquiring a majority stake in Vantage Towers, a Germany-based mobile telecommunications tower infrastructure operator, in a joint venture with Vodafone
  • Opdenergy, an independent renewable energy producer focused on solar photovoltaic and wind energy technologies, on its debut on the First Market of the Spanish Stock Exchange
  • Brookfield Asset Management on acquiring the Cupa Group, a leader in the natural slate and stone business, from The Carlyle Group 
  • IMG on acquiring the Mutua Madrid Open tennis tournament and the Acciona Open de España golf tournament
  • Repsol, a Spanish energy company, on:
    • Sale of a 49% stake in a portfolio of 12 wind farms and two photovoltaic plants valued in €740 million to Pontegadea
    • Acquiring 100% of the share capital of Asterion Energies and its subsidiaries in Spain, France, and Italy
    • Selling a 49% stake in the Valdesolar photovoltaic project to The Renewables Infrastructure Group 
    • Selling a 49% stake in its Delta wind farm portfolio to Pontegadea
    • Acquiring the low-emission generation assets and supply of power and gas retail business of Viesgo España, a Spanish company that generates and distributes electricity*
  • GIP on acquiring Atlas Renewable Energy from Actis
  • Ecoener, a wind, hydro, and photovoltaic energy operator, on its IPO for a capitalization of c. €350 million
  • RIC Energy on selling a 1 GW solar PV greenfield portfolio to Lightsource BP
  • A US power company on selling two concentrated solar power plants in Extremadura*
  • Elecnor on acquiring a stake in Wayra, an Ecuadorian company with oil exploitation interests in Ecuador*
  • APG on a joint venture with Elecnor to develop power transportation lines in Brazil and Chile and Elecnor’s solar PV business in Spain*
  • A foreign fund on acquiring a wind and solar PV greenfield portfolio of c. 700 MW*
  • CNIC and GT Fund on acquiring from infrastructure funds managed by Goldman Sachs a stake in Redexis Gas and Redexis Finance, Spain’s second-largest gas transportation and third-largest LPG distribution company*
  • Allianz Capital Partners and Canada Pension Plan Investment Board (CPPIB) on acquiring a 20% stake in Gas Natural Fenosa’s natural gas distribution business in Spain*
  • ContourGlobal on:
    • Acquiring Acciona’s 250 MW concentrating solar-thermal power (CSP) portfolio, made up of five CSP facilities*
    • The sale-down of a 49% stake in the 250 MW CSP portfolio acquired from Acciona to Credit Suisse Infrastructure Partners*
    • Acquiring an 800 MW combined cycle from Naturgy*
  • Isolux on selling T-Solar, Spain’s largest solar PV portfolio, to I-Squared Capital*
  • Morgan Stanley Infrastructure Partners on:
    • Acquiring a natural gas distribution business from Gas Natural SDG through a competitive tender*
    • Disposing of Madrileña Red de Gas to a consortium formed by Gingko Tree, PGGM, and EDF*

*Matter handled prior to joining Latham 

Bar Qualification

  • Spain (Abogado)


  • LL.M. in Finance and the Stock Exchange, Instituto de Estudios Bursátiles, 1999
  • LLB Law in Law, Universidad Complutense de Madrid, 1999

Languages Spoken

  • English