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Orrick and SSW Pragmatic Solutions Advise CMC Poland on Energy Deal with Statkraft

Orrick and SSW Pragmatic Solutions Advise CMC Poland on Energy Deal with Statkraft

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Orrick’s London office and SSW Pragmatic Solutions have advised CMC Poland on its entry into a ten-year synthetic power purchase agreement with Norwegian renewable energy producer Statkraft. Pinsent Masons reportedly advised Statkraft on the deal. 

Financial details of the transaction were not disclosed. 

CMC Poland — a subsidiary of the US-based Commercial Metals Company — is a manufacturer and recycler of steel and metal products that operates a steel mill in Zawiercie, Poland. CMC employs 12,000 people globally, including 2,000 in Poland. 

Statkraft is a Norwegian state-owned, Oslo-based producer of hydro, wind, gas, and solar power. Under the agreement with CMC Poland, Statkraft will begin providing 20% of CMC Poland’s energy needs at a fixed price in 2021.

Orrick’s team included Partner Edward Humphries and Associate Emily Yung. 

SSW Pragmatic Solutions’ team consisted of Partner Dominik Strzalkowski and Counsel Grzegorz Pizon.