Global law firm Clifford Chance has advised its longstanding client Blue Elephant Energy GmbH (BEE), the Hamburg-based independent operator of solar, wind, and storage solutions, on the acquisition of a solar PV portfolio in the Netherlands from Dutch developer TPSolar.

This acquisition adds three solar PV parks with a combined capacity of approximately 88 MWp to BEE’s portfolio, consisting of projects at varying stages of development and operation across the Netherlands. One project is already operational. Another is expected to be commissioned in mid-2025. The last is planned for commissioning between late 2025 and early 2026. Once fully commissioned, the three solar parks will make a significant contribution to achieving the Netherlands’ ambitious climate targets by 2035, with an expected annual saving of 48,830 tonnes of CO₂ emissions and 38,493 m³ of water.

Following the realisation of this investment, BEE has expanded its total Dutch portfolio to 717 MWp. This increases BEE’s existing portfolio to 1,730 MWp, which comprises PV and wind parks in nine countries. Read more here.

This transaction builds on Clifford Chance’s market-leading Energy & Infrastructure practice. Clifford Chance has previously advised BEE on the acquisition and financing of six ready-to-build solar parks in the Netherlands with an overall capacity of 120 MWp, the acquisition and financing a 10 MWp construction-ready PV plant, 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 further consisted of Lotte de Bruin, Niels Kuil, Liselotte Hommels and Dilan Ata (Energy & Infrastructure), Pieter Leefers and Wouter Fonteijn (Corporate M&A), Charlotte Horsten and Esmée Oldenkamp (Notary) and Stern Flik and Alec Sanderson (Tax).