Dentons has advised international energy group Sev.en Energy on the acquisition of the Pocerady power plant from CEZ. Skils reportedly advised CEZ on the transaction.
With a capacity of 1000 MW, the Pocerady plant is the largest coal-fired energy generating plant in the Czech Republic. According to Dentons, “the parties reached an agreement to transfer ownership of the plant to Sev.en Energy by December 31, 2020, instead of in 2024 as initially planned. The accelerated timeline will allow the company to speed up the process of modernizing and upgrading the plant to meet all emission standards by 2021.”
“The purpose of this investment is to meet the EU’s and the Czech Republic’s most stringent climate and environmental requirements until the time when the Czech Republic obtains sufficient energy from other than fossil sources,” says Sev.En CEO Lubos Pavlas. “We plan to reshape the Pocerady power plant into one of the most modern capacities in the Czech Republic, which will safely take the energy sector to the zero-carbon future.”
Dentons’ team included Partner Petr Zakoucky, Managing Associates Ivo Hartmann and Lucie Kubinyiova, and Associates Justina Bodlakova, Jan Tyls, Michal Pelikan, Adam Prerovsky, Barbora Obracajova, and Anna Urbanova.
Editor's Note: On January 6, 2021, Dentons reported that the deal had "successfully closed on December 31, 2020, having received regulatory approvals and completed the conditions precedent."
