NEWS

WFW advises BayWa on Kenergia acquisition

5 July 2016

EN | IT

International law firm Watson Farley & Williams (“WFW“) advised BayWa r.e. Italia (“BayWa”), a leading player in the Italian photovoltaic and wind energy sectors, on the acquisition of Italian O&M service provider Kenergia Sviluppo S.r.l., including its renewable energy portfolio of circa 280 MW.

With this acquisition, BayWa now operates more than 500 MW of renewable energy plants in the wind and photovoltaic sectors across Italy and about 2 GW of plants producing renewable energy worldwide, making it the largest independent O&M operator of photovoltaic plants in Italy. In addition to its O&M business, BayWa is also active in project finance and the distribution of photovoltaic systems across Italy.

The multidisciplinary WFW Italy team was led by partner Pierpaolo Mastromarini, assisted by counsel Carlo Cosmelli and trainee Francesco Comaschi on the corporate aspects of the deal; associates Daniele Pompei, Giovanni Incardona and Clara Matranga on corporate and project finance documentation; and associates Raffaela Colamarino and Anthony Bellacci on employment and real estate matters.

Pierpaolo commented “We are very pleased to have successfully advised our client on this strategic transaction which will give a boost to BayWa’s O&M business in Italy. The deal was characterised by a scrupulous technical and legal analysis of project documentation for the purpose of keeping, and where possible, improving, the performance of their photovoltaic plants”.

Lorenzo Palombi, CEO of BayWa commented: “We are very happy with to have worked with WFW on this important transaction. By taking over Kenergia Sviluppo, we have consolidated our leading position in the Italian photovoltaic and wind power markets. This important milestone will spur us on to continue to build up our portfolio and strengthen our market position”.