Watson Farley & Williams (“WFW”) advised Blue Elephant Energy AG (“BEE”), the Hamburg-based independent operator of solar and wind power plants on its joint development agreement with Green Future S.r.l. (“Green Future”), a Sicilian technical planning and project development company for solar power plants, for a 119 MW Italian solar portfolio expected to reach ready-to-build status by the end of 2022.
The portfolio includes six solar projects in Sicily, which has both higher solar irradiance and higher electricity price levels than mainland Italy. It will contribute to a reduction of global CO2 emissions by circa 87,000 tons and will account for the annual electricity consumption of 78,000 households once completed.
The WFW Italy Energy team advising BEE was led by Italy Head and Partner Eugenio Tranchino, working closely with Counsel Luca Sfrecola and Associate Anthony Bellacci.