Bird & Bird advises Energa Wytwarzanie in connection with the acquisition of a wind farm and four PV installations from Greenvolt Power
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Bird & Bird’s Warsaw Corporate Team advised Energa Wytwarzanie, a subsidiary of Energa, an ORLEN Group member, in connection with the execution of a preliminary agreement with Greenvolt Power for the acquisition of two portfolios comprising a wind farm cooperating in a hybrid arrangement with a photovoltaic farm (Sompolno Portfolio of 26 + 10 MW) and three photovoltaic parks with a total capacity of 22 MW (Opalenica Portfolio).
The transaction completion was supervised by Rafał Dziedzic (Partner, Corporate & M&A) with the support of the following associates: Mariya Borsuk (Senior Associate, Corporate & M&A) and Justyna Świnka (Associate, Corporate & M&A).
Administrative, regulatory and contractual aspects, including the legal due diligence review of the projects, were handled by: Grzegorz Pizoń (Partner, Energy & Utilities), Sara Radzicka-Tolwaj (Senior Associate, Energy & Utilities), Wojciech Korga (Senior Associate, Energy & Utilities) and Tomasz Chabrzyk (Associate, Energy & Utilities). Additionally, the Energy & Utilities team supported the Corporate & M&A team in negotiating SPAs in the scope of the regulatory environment for renewable energy projects.
‘This was yet another transaction we have carried out for the ORLEN Group in recent years. We are pleased to have again been able to advise on an RES project that supports the energy transition in Poland,’ says Rafał Dziedzic, Partner on the Corporate & M&A team.
‘In recent months, we have seen an increase in the number of transactions involving projects under construction at an advanced stage of development. Transactions of this type are very demanding legally, and adequate safeguarding of the buyer’s interests calls for coordination of M&A expertise and knowledge of the detailed issues involved in implementing and operating RES projects. However, completing such transactions is particularly rewarding,’ says Grzegorz Pizoń, Partner on the Energy & Utilities team.
‘With this acquisition, the ORLEN Group will increase the potential of its RES installed capacity, which currently amounts to approximately 700 MW. Undoubtedly, this will strengthen the Group’s position as a leader in renewable energy sources, not only in Poland but in the entire CEE region,’ comments Krzysztof Borkowski, the acquisition work coordinator on the project on behalf of Energa SA.