Ashurst LLP

06/03/2020 | Press release | Distributed by Public on 06/03/2020 03:30

Ashurst advises Ingenieurversorgung Baden Württemberg on an investment in the renewable energy sector

Ashurst has advised Ingenieurversorgung Baden-Württemberg, the professional pension institution of the consulting engineers in the state of Baden Württemberg, on its investment in a company in the renewable energy sector. The company, EVH Grüne Energie - Projekt GmbH & Co. KG, was formed jointly with EVH GmbH, a subsidiary of Stadtwerke Halle (Saale), the municipal utility company of the city of Halle (Saale), and shall ensure an environmentally compatible energy supply for the citizens of the city of Halle (Saale) on a long-term and sustainable basis. Overall, the company shall establish and develop a portfolio of renewable energy generation capacities, particularly in the form of solar parks, with an envisaged total output of 200 megawatt and envisaged investments of up to € 130 million.

The transaction shall enable Stadtwerken Halle (Saale) to fully cover the electricity demand of the city of Halle (Saale) - along with electricity from its own cogeneration plants - in an environmentally compatible fashion. A subsequent public participation programme shall allow the citizens of the city of Halle (Saale) to actively participate in the energy system transformation (Energiewende).

The Ashurst team was led by corporate partner Dr Benedikt von Schorlemer, who was supported by Dr Detmar Loff (financial regulatory) und Dr Maximilian Uibeleisen (renewable energy). Associates Dr Valentin Pfisterer and Jan Ischreyt were involved in the transaction management and advised on corporate law, associate Christoph Klessing advised on financial regulatory aspects of the transaction.