Watson Farley & Williams (“WFW”) has advised Solarfields Group (“Solarfields”), via its subsidiary SF Grid Parity S.r.l. (“SF”), on the preparation and negotiation of a joint venture and development agreement with Innovo Group S.r.l. (“Innovo”), concerning a pipeline of more than 300 Italian photovoltaic projects.
The joint venture, which will be known as Innovo SF S.r.l., is 51% owned by Innovo and 49% by SF. Solarfields Sette S.r.l. will act as developer for the pipeline projects.
The initial pipeline includes 18 photovoltaic projects under development in Sardinia, with a total capacity of approximately 83 MW, as well as two storage plants in Sicily with a total capacity of 100 MW.
Solarfields is an Italian engineering company specialising in the development and co-development of renewable energy projects, primarily in the solar/photovoltaic sector, for an international clientele. Innovo Group is a fully integrated renewable energy platform with offices in Milan, London and Luxembourg.
Legance acted as Innovo’s legal counsel.