CMS has advised Signify, a Euronext-listed company, on the purchase of renewable energy for its operations in Poland from Green Investment Group’s Kisielice onshore wind farm. Allen & Overy advised GIG on the deal.
The transaction took the form of a virtual corporate Power Purchase Agreement. VPPAs are agreements for the virtual purchase of electricity generated from renewable sources directly from the generator. Signify's VPPA is one of the first agreements of this type executed in Poland, and its first VPPA in Europe.
The Kisielice wind farm is a 42-megawatt project located 200 kilometers north of Warsaw that GIG acquired in August. Operating since 2014, it consists of 21 Enercon E82 turbines. The wind power sourced under the VPPA will be used to power four of Signify’s factories and several offices throughout Poland. According to Signify’s press
The CMS team was led by Warsaw-based Partner Piotr Ciolkowski and London-based Partner Munir Hassan and included Warsaw-based Associate Piotr Prawda and London-based Associate Dalia Majumder-Russell.
The Allen & Overy team included Partner Dan Cocker and Senior Associate Maciej Dymnicki.