Watson Farley & Williams (“WFW”) has advised independent French renewable energy operator Valorem on the acquisition of a majority stake by investment fund Octopus Energy Investments (“Octopus”) in its unsubsidised Saunamaa and Suolakangas wind farms in south western Finland, which will have a total installed capacity of 71.4 MW.
Valorem developed the two wind farms together with local partner Megatuuli. It will continue to manage and operate them going forward via its subsidiaries Valrea and Valemo respectively, the latter also in collaboration with Megatuuli. Both wind farms are expected to be in operation by late 2020.
Specially, the firm advised Valorem on the drafting and negotiation of the Share Purchase Agreement and Shareholders’ Agreements, legal due diligence and the review of the project contracts.
The WFW Paris energy team advising Valorem was led by Partner Laurent Battoue, supported by Partner Thomas Rabain and Associates Pierre Thévenin-Montefiore and Steven Hochman on the corporate aspects. Associates Marine Yzquierdo and Noëlène Grenard advised on the project contracts and regulatory matters respectively.