Dentons advised ERG Renew, the largest Italian wind energy operator and one of the leading wind companies in Europe, on the acquisition of two wind parks in Poland. We advised ERG Renew on a €39 million acquisition of a 100 percent equity interest in a Polish SPV developing the wind project in Słupia municipality in Central Poland with a planned capacity of 24 MW, from PAI Polish Alternative Investments RES Sp. z o.o. The project is expected to be completed at the end of 2015, and the wind park will annually generate more than 62 GWh of electricity.

As a long-standing client, we also advised ERG Renew earlier in the year on the €23 million acquisition of a 100 percent equity interest in Hydro Inwestycje Sp. z o.o., a Polish company developing a 14 MW wind park in the municipalities of Szydlowo and Stupsk (Central Poland), from Ojeocan Management. The deal value includes the cost of the wind project construction and the enterprise value. Construction works for the wind farm are expected to be completed later in 2015, with the wind farm fully operational by the end of the year able to generate more than 36 GWh of electricity per year.

With this latest acquisition, ERG Renew will have 80 MW under construction in Poland. It is planned that all 80 MW will be in operation by the end of 2015.

The Dentons team was supervised by Arkadiusz Krasnodębski, Warsaw office Managing Partner and head of the Firm’s Energy practice in Europe, and led by Warsaw-based Counsel Tomasz Janas and Associate Małgorzata Bluszcz, who advised on the deal structuring, due diligence and prepared the transaction and project documentation.

Commenting on the transactions, Arkadiusz Krasnodębski said: “We are pleased to support our long standing client ERG Renew on its new investments in the wind energy sector in Poland. This was another key step in the rapid expansion of ERG Renew’s investment portfolio in Europe, which in the case of Poland is probably the most dynamic amongst all RES developers in our market. At the same time we have affirmed our strong reputation as a leading law firm in the energy sector in Poland.”

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