Watson Farley & Williams (“WFW”) advised METLEN Energy & Metals (“METLEN”) on the drafting and negotiation of agreements with PPC Group (“PPC”) for the establishment of a Greek joint venture company, in which each party will hold a 50% stake. The joint venture will develop, build and operate a portfolio of Battery Energy Storage System (BESS) projects of up to 1,500 MW/3,000 MWh in Romania, Bulgaria and Italy, of which 1,000 MW will be operational within the next 12 months.
This agreement ensures both a significant portion of PPC’s energy storage targets over the next three years, as well as the rapid execution of its expansion plans. METLEN will be responsible for building the projects in all three countries.
METLEN is a global industrial and energy company with a leading position in the metals and energy sectors, focussed on sustainable development and the circular economy.
PPC is the leading powertech group in Southeastern Europe, driving the region’s energy and digital transition through strategic investments in electrification and infrastructure.
The WFW Athens team that advised METLEN was led by Partner Virginia Murray, supported by Senior Associates Katerina Stringari and Eleni Stylianou and Associates Christianna Papageorgiou, George Karanikolas and Elli Bereti.
Virginia commented: “WFW is already playing a leading role supporting investors in rolling out BESS in Greece, leveraging our firmwide experience in this area. WFW Athens is proud to have supported METLEN in this landmark investment with PPC, creating one of the largest BESS portfolios across three EU Member States and further supporting the green transition across the region”.
