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A&O Shearman led the project finance sector in Spain for 2025, achieving a total transaction value of €7.718,8 million, largely due to Iberdrola's East Anglia Hub project. Watson Farley & Williams topped the number of transactions with 34 deals, while Linklaters followed closely in value at €7.628,57 million. The market experienced growth despite investor uncertainty, with a notable shift towards energy storage solutions to manage grid challenges.