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LPA-CGR avocats advises KGAL in the successfully divestment of European renewables portfolio

LPA-CGR avocats advises KGAL in its achievement of attractive returns with the sale of a 152.4 MW renewable portfolio with power plants in France and Germany. The portfolio is acquired by Italian independent power producer ERG, through its subsidiaries ERG Eolienne France SAS and ERG Windpark Beteiligungs GmbH.

The portfolio consists of seven solar parks and three wind farms in France with a total installed capacity of 56.7 and 40.6 MW respectively, and five wind farms in Germany with a total installed capacity of 55.1 MW. Commissioned between 2012 and 2017, the portfolio has an average operation time of over six years and benefits from an attractive Feed-in-Tariff regime.

The portfolio’s assets were part of an account managed on behalf of a German pension fund. KGAL successfully implemented a structured sales process in order to benefit from the current positive market environment on behalf of its investors.

The team of LPA-CGR that advises KGAL in France on M&A matters is composed of Philippe Raybaud, partner, Wyssam Mansour, counsel, and Aude Cassaigne. Hélène Gelas, partner, and Charles Bressant, advise on regulatory, energy law and public law matters. The LPA team that advises KGAL in Germany (Munich office) on M&A matters is composed of Oliver Kirfel, LL.M., Michael Grabau, Maximilian Amrhein, Jacqueline Spletter.

KGAL is also assisted by Astris Finance LLP, financial advisor on this transaction.

Ashurst assists ERG.