WFW advises BayWa r.e. on 10-year VPPA with Huhtamaki
This is Europe’s largest solar corporate VPPA for the packaging industry to date.
This is Europe’s largest solar corporate VPPA for the packaging industry to date.
Three operations have already been entered into on the basis of this partnership.
Energia has one of the largest dedicated wind and solar investment teams in Europe and is currently investing in its fifth renewable energy fund, Taaleri SolarWind II fund.
Bulb is the UK’s seventh largest energy company with 1,000 staff and over 1.6m customers.
The syndicated financing is linked to certain pre-determined key performance indicators on sustainability.
Their appointments form part of a new leadership and governance structure for WFW endorsed by the firm’s partnership, replacing the previous model led by joint Managing Partners and a Chairman.
The transaction included a margin adjustment mechanism based on carbon intensity rating as an incentive for the owner to reduce carriers’ carbon emissions.
This is the first occasion when 100% of the equity in a container box ABS has been sold to third-party investors and only the second time that any equity in a container box ABS has been sold to third party investors.
The ship, which was acquired by Megaride in 2021 as part of a restructuring agreement with Perseveranza S.p.A. di Navigazione group, was sold at her market price, enabling DeA to exit the dry-bulk sector.
WFW advised on matters of English, French, German, Marshall Islands and Hong Kong law, with five offices involved in the transaction.
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