Watson Farley & Williams (“WFW”) has advised Elawan Energy S.L. (“Elawan”) on the acquisition of two photovoltaic projects currently under development in Puglia, southern Italy, from a local developer. The two plants are estimated to be operational by 2025 and will have a capacity of circa 20.4 MW, and 51.2 MW respectively.
WFW also assisted Elawan on the negotiation of a co-development agreement with the local developer regarding their respective rights and obligations relating to the project companies and the development of the projects.
Elawan is part of the ORIX Group and operates across the entire value chain of the renewable energy sector, from development to financing, construction and operation. Headquartered in Spain, Elawan is present in 15 countries around the world, with its main activities allocated in Europe, North and South America. Elawan has more than 1,304MW (gross) in operation and approximately 7.3GW of projects under construction and under development (gross).
The WFW Italy Corporate team that advised Elawan was led by Partner and Italy Head Eugenio Tranchino and Counsel Luca Sfrecola on the corporate aspects of the transaction, supported by Associates Giovanni Benedetto and Francesco Vanzaghi and Trainee Fiammetta Cardillo. Partner Tiziana Manenti assisted on due diligence matters, working closely with of Senior Associate Anthony Bellacci and Associate Antimo Nersita.