Clifford Chance advises Blue Elephant Energy on the acquisition and financing of a 10 MWp construction-ready PV plant, expanding its portfolio in the Netherlands to 631 MWp

Clifford Chance advises Blue Elephant Energy on the acquisition and financing of a 10 MWp construction-ready PV plant, expanding its portfolio in the Netherlands to 631 MWp

International Law firm Clifford Chance has advised Blue Elephant Energy ('BEE'), the Hamburg-based independent operator of solar and wind farms, on the acquisition and financing of a construction-ready PV plant in the Netherlands with a capacity of 10 MWp from its long-standing business partner Greencells Group, a global service provider for the development, construction, and maintenance of utility-scale solar power plants. As a result, BEE expands its portfolio in the Netherlands to 631 MWp.

The project is located in the municipality of Hoogeveen in the Northeast of the Netherlands. The plant is an extension to the operating 30 MW-PV plant Hoogeveen I and shall be connected to the grid by the end of 2022. The project benefits from a feed-in-tariff under the SDE-regime. Read more about this project here.

This transaction builds on Clifford Chance's market-leading Project Finance practice and sector expertise in renewable energy. Clifford Chance has recently advised BEE on the acquisition and financing of 47 MW of PV projects in the Netherlands and on the acquisition and financing of two solar parks in the Netherlands of a total of 146 MW, among others.

The Clifford Chance team was led by Liesbeth Buiter and Hein Tonnaer and consisted of Lotte de Bruin, Joris Dortmans, Genia Baardman, Julia van Heusden, Charlotte Horsten, Laura Stegeman, Esmee Oldenkamp, Stern Flik and Alec Sanderson.