Watson Farley & Williams (“WFW”) has advised Impax Asset Management Group Plc. (“Impax”) on a solar PV joint venture (“JV”) with WATT+VOLT.
The JV will focus on the development, construction and operation of solar PV parks across Greece and will start with a collaboration for an existing portfolio of projects totaling 200 MW. The existing projects are currently in a mature stage of development and undergoing licensing, with construction planned to be launched this year.
WFW supported Impax in relation to the drafting and completion of the transaction documents, as well as Greek regulatory and corporate advice.
Founded in 1998, Impax is a specialist asset manager investing in the opportunities arising from the transition to a more sustainable global economy. Impax believes that capital markets will be shaped profoundly by global sustainability challenges, including climate change, pollution and essential investments in human capital, infrastructure and resource efficiency. The company seeks to invest in higher quality companies with strong business models that demonstrate sound management of risk. Impax is one of the investment management sector’s largest investment teams dedicated to sustainable development.
WATT+VOLT is a Greek electricity and gas provider founded in 2011, with a mission to hold a leading position providing integrated energy solutions in Southern Europe and the Balkans.
The WFW Athens energy team that advised Impax was led by Partner Virginia Murray, supported by Senior Associates Maira Galani and Katerina Stringari and the Associates Asimina Papakosta, Maria Charontaki and Eleni Stylianou.
Virginia commented: “We are delighted to have supported Impax on this strategically important project, which combines their focus on sustainability with WATT+VOLT’s strength in Greece. We see this as a further step in the maturity of the Greek market, with international players teaming up with strong local developers. WFW Athens has over twenty years’ experience in the Greek renewable energy sector, which means that we were able to provide Impax with practical advice on all elements of this transaction and will support the portfolio through the development, financing, construction and operation stages”.