María José Descalzo is a partner in Latham & Watkins’ Madrid office and a member of the firm's Corporate Department. Ms. Descalzo has extensive experience representing domestic and international companies, investors, and private equity firms on a variety of energy-related M&A, joint ventures, IPOs, and project finance matters.

Ms. Descalzo has significant expertise advising on renewable and conventional energy projects, among a variety of other energy sub-sectors, including the production of electricity, natural gas and oil (production, transportation and distribution assets), and LNG. 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's experience includes advising:

  • Brookfield Asset Management in the acquisition of the Cupa Group, leader in the natural slate and stone business, from The Carlyle Group 
  • IMG in the acquisition of the Mutua Madrid Open tennis tournament and the Acciona Open de España golf tournament
  • Repsol, a Spanish energy company, in the:
    • Acquisition of 100% of the share capital of Asterion Energies and its subsidiaries located in Spain, France, and Italy
    • Sale of a 49% stake in the Valdesolar photovoltaic project to The Renewables Infrastructure Group 
    • Sale of a 49% stake in its Delta wind farm portfolio to Pontegadea
    • Acquisition of the low-emission generation assets and supply of power and gas retail business of Viesgo España, a Spanish company engaged in generation and distribution of electricity*
  • Global Infrastructure Partners (GIP) in the acquisition of Atlas Renewable Energy from Actis
  • Ecoener, a wind, hydro, and photovoltaic energy operator, in its IPO for a capitalization of c. €350 million
  • RIC Energy in the sale of a 1 GW Solar PV greenfield portfolio to Lightsource BP
  • US power company on the sale of two concentrated solar power plants located in Extremadura*
  • Elecnor in the acquisition of a stake in Wayra, an Ecuadorian company with local oil exploitation interests*
  • APG in the joint venture with Elecnor regarding the development of power transportation lines in Brazil and Chile and Elecnor’s solar PV business in Spain*
  • A foreign fund in the acquisition of a wind and solar PV greenfield portfolio of c. 700 MW*
  • CNIC and GT Fund in the acquisition from infrastructure funds managed by Goldman Sachs of 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 its acquisition of a 20% stake in Gas Natural Fenosa’s natural gas distribution business in Spain*
  • ContourGlobal in:
    • The acquisition of Acciona’s 250MW 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*
    • The acquisition of a 800 MW combined cycle from Naturgy*
  • Isolux in the sale of T-Solar, the largest solar PV portfolio in Spain to I-Squared Capital*
  • Morgan Stanley Infrastructure Partners in:
    • The acquisition of a natural gas distribution business from Gas Natural SDG, S.A. through a competitive tender*
    • Its disposal of Madrileña Red de Gas, S.A.U. to a consortium formed by Gingko Tree, PGGM and EDF in 2015*

*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