Bird & Bird advises Jinko Power on acquisition of energy storage project company and on successful capacity auction participation
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Partner
Poland
I am Co-Managing Partner at Bird & Bird Poland's office. I also co-head our Corporate and M&A team in Warsaw.
Counsel
Poland
I am a counsel in the Corporate and M&A team in Warsaw. I specialise in corporate, civil, restructuring and bankruptcy law.
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Bird & Bird Warsaw’s office advised Jinko Power Energy S.L. on the process of acquiring the shares of a company responsible for the development of electricity storage projects and in participating in the capacity market - main auction for the 2028 delivery year.
Bird & Bird provided comprehensive legal support, which included: legal due diligence of the SPV and the electricity storage projects, transaction advisory, preparation and negotiation of the SPA and DSA.
Bird & Bird's team also advised on regulatory issues relating to participation of the electricity storage projects developed by the SPV in the capacity market and in the formalities related to participation in the main capacity auction for the 2028 delivery year, under which the Jinko was awarded a capacity contract for a period of 17 years.
Jinko was advised by a team of lawyers led by Grzegorz Pizon (Partner, Energy & Utilities Practice), assisted by Sara Radzicka-Tolwaj (Senior Associate, Energy & Utilities Practice), Wojciech Korga (Senior Associate, Energy & Utilities Practice) and Tomasz Chabrzyk (Associate, Energy & Utilities Practice).
In the transactional area, the Client was also supported by Rafal Dziedzic (Partner Transaction Advisory Practice, Mergers and Acquisitions) and Artur Stosio (Counsel, Transaction Advisory Practice, Mergers and Acquisitions).
Sara Radzicka-Tolwaj (Senior Associate) said: "We are pleased to have been able to support Jinko in such an interesting and important project for our market. We are currently seeing increased interest in energy storage and its participation in the capacity market, which alongside the ancillary services and flexibility services which are being developed, is an opportunity to accelerate development of storage projects. An effective legal strategy is key to achieving business goals in the energy sector, as our client was well aware. We congratulate Jinko on winning the auction and look forward to success in further capacity auctions as well."
As Sylwia Bojar, Country Manager at Jinko Power, points out: "The success of the transaction and winning the capacity auction open up new development prospects for the company in the rapidly growing power sector. Bird & Bird's team provided comprehensive legal advice to the company with full professionalism, which contributed to the implementation of our strategy. Jinko intends to develop new projects in the Polish market and continue investing in the development of energy infrastructure, including in particular electricity storage facilities".