Global law firm Dentons assisted Capital Dynamics, an independent global private asset management firm also active in the energy sector, in the acquisition from a leading international developer of three ready-to-build solar PV projects in Italy. The projects will have a total capacity of approximately 110 MW and will operate under a grid parity regime and in the absence of public incentives.
Two of the assets, acquired in the last quarter of 2022, already under construction and are expected to commence commercial operations in Q3 2023. The construction of the third asset, acquired in early March 2023, is expected to begin in Q3 of this year and become operational in 2024.
All the projects will be supported by long-term power purchase agreements.
Once operational, the projects are estimated to generate approximately 220 GWh of renewable energy per year, equivalent to 59,180 tonnes of avoided CO2 emissions and the annual energy needs of more than 43,000 households.
Dentons advised Capital Dynamics on all phases of the three projects, including legal due diligence on the target companies and project rights, the negotiation of the acquisition documentation with the sellers, the negotiation with the public administration of the agreements for the environmental and territorial compensation measures related to the installation of such plants, and the preparation and negotiation of project contracts with the suppliers and contractors.
PartnerĀ Luigi Costa, co-head of the business unit Project, Energy and Infrastructure, led the legal team which included managing counselĀ Ginevra Biadico, associateĀ Silvia LazzatiĀ and traineeĀ Alice Bixio.
