Eversheds Sutherland Advises On Europe’s Largest Floating Solar Project
Eversheds Sutherland's Netherlands team has advised a consortium of investors on the acquisition of shares in Europe's largest floating solar park, based in Zwolle in the Netherlands.
The consortium consists of Energiefonds Overijssel, Blauwvinger Energie and a private investor, supported by financing from ASN Groenprojectenfonds. They acquire shares from the builder of the solar park, GroenLeven.
The Bomhofsplas solar project is largest floating photovoltaic project in Europe and, largest outside China. Across over 18 hectares and 72,000 panels, the project has a generating capacity of 27.4MW.
Eversheds Sutherland's energy team advised on numerous elements of the acquisition, including the due diligence, project agreements, real estate and asset rights, drafting and negotiating the SPA and other ancillary agreements, and implementing the buyers' joint venture.
Michel Chatelin, Partner and global lead for floating solar projects at Eversheds Sutherland said:
“We are delighted that our focus and development on floating solar in recent years has been rewarded with involvement in this milestone project.”
Miriam van Ee, M&A and Projects Partner also commented:
“This was a very exciting transaction with complex legal discussions; a major addition to our renewable energy track record. We again demonstrate ourselves to be a front running team in the renewable market.”
A team from Eversheds Sutherland was led by Michel Chatelin and Miriam van Ee. They were supported by Partners Natascha Geraedts and Paul Goedvolk, Senior Associates Yannie Lam and Laetitia Goor and Associates Fons Leijten, Christine Strating, Carlos Henriquez Cubas and Kathinka Driessen