Allen & Overy has advised Électricité de France (EDF), a leading European utility, on the acquisition of 17 photovoltaic projects from MEC Energy GmbH (MEC), the German project developer of the Düsseldorf-based MEC Group.
The project pipeline has a total capacity of 529 MWp, with individual project sizes between 8 and 99 MWp. The projects are located in Lower Saxony, Saxony-Anhalt, Mecklenburg-Western Pomerania and Brandenburg and will add to EDF’s growing project portfolio in Germany.
The transaction was structured as an asset deal. The development of the 17 photovoltaic projects will be continued by MEC on behalf of EDF until ready-to-build status is reached, which is expected to be between 2024 and 2025. The parties agreed not to disclose the purchase price.
With this acquisition, EDF expands its renewable energy portfolio in Germany, reinforces its commitment to the energy transition and supports its goal of becoming a leading player in the German renewable energy market.
Headquartered in Paris and with multiple locations worldwide, EDF is a French multinational energy utility company largely owned by the French state. EDF is present in Germany with EDF Renewables Deutschland and has been driving the energy transition with the development, construction and operation of onshore and offshore wind energy, photovoltaics, battery storage solutions and hydrogen projects for more than 20 years.
As a company of the MEC Group, MEC is a specialist in project development in the field of renewable energy with a focus on photovoltaic ground-mounted systems as well as rooftop photovoltaic systems. The company combines experience in the consultancy industry with many years of expertise in project development in the energy sector and accompanies energy projects from planning through approvals to implementation.
The Hamburg M&A-Team of Allen & Overy comprised Partner Max Landshut, Counsel Dr Sebastian Remberg, and Associate Juliana Palavra Gorgueira. Furthermore, the German Public Law team around partner Dr Udo Herbert Olgemöller as well as associates Dr Stephan Bühner and Dennis Jurdt and the German Real Estate team around partner Dr Christian Hilmes, counsel Dr Daniel Bolm and associate Hauke Jung were involved.
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