Clifford Chance advised Kallista Energy on the negotiation and signing of three long-term power purchase agreements (CPPAs) with Les Mousquetaires group, one of the key players in mass retail in France.These CPPAs will allow Les Mousquetaires group to further secure its electricity supply while pursuing its goal of using renewable energy in its energy consumption. At the same time, they will also allow Kallista Energy to secure the bank financing for the repowering of three additional wind farms. These contracts for the direct purchase of electricty generated by wind farms are a first for Les Mousquetaires group, which has, until now, only entered into CPPAs for electricity generated by solar plants.
The 3 wind farms are located in the Hauts-de-France region and have the capacity to generate 35,2 MW. The commissioning of these farms is scheduled to occur in 2024. The amount of electricty that will be generated by these farms annually is thought to be around 100 GWh, and will be purchased by Les Mousquetaires group, through its subsidiary Bonacieux Energies, over the next 20 years.
Clifford Chance also advised Kallista Energy on the analysis of the bank-capability of these three CPPAs, for the bank financing of the wind farms repowering by Saar LB and BNP Paribas.
The team was composed of Gauthier Martin, partner, as well as Clémence Graffan, Elise Mayer and Nina Yoshida, associates.
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