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.