Baker McKenzie has advised Kelag on the acquisition of 25 power plants in France and Portugal from the RWE Group. Local expertise for Portugal was provided by the Portuguese law firm Abreu Advogados, while the Dusseldorf office of Clifford Chance advised the RWE Group on the deal.
Financial details were not disclosed.
According to Baker McKenzie, twelve of the hydropower plants acquired by Kelag are in France, while seven of the small hydropower plants and six wind turbines the company acquired shares in are in Portugal. According to the firm, "the 25 power plants can supply enough energy to cover the annual requirements of more than 45,000 households."
According to Baker McKenzie, “the acquisition further increases Kelag’s power plant output by five percent to 1,458 megawatts, while Kelag’s generation of own electricity increases by nearly five percent to 3.6 billion kilowatt-hours.”
Baker McKenzie’s team included Vienna-based Partner Eva-Maria Segur-Cabanac, Associate Armin Assadi, and Junior Associate Clara Fercsak, Berlin-based Counsel Holger Engelkamp, and Paris-based Partner Saveria Laforce, Counsel Remi Ducloyer, and Associates Sarah Belahcen and Roman Roussel.