CMS has advised the Saint-Gobain Group on the conclusion of a 15-year virtual power purchase agreement for the acquisition of renewable energy from Tion Renewables' onshore wind farms in Poland. Dentons advised Tion Renewables.
Accordion to CMS, "the total installed capacity of the wind farms is approximately 52 megawatts, with a projected production of approximately 190 gigawatt-hours a year, which is the equivalent of the electricity consumption of around 100,000 households in Poland."
"Under the terms of the contract, 100% of the electricity produced by Tion’s wind farms will be sold on the market and virtually settled with the purchaser at a guaranteed fixed per-megawatt-hour price, including annual step-ups of 2.5% consistent with the Polish Central Bank’s long-term inflation target," Dentons informed. "The contract will commence in January 2025."
The Saint-Gobain Group is a construction materials manufacturer. Tion Renewables is a German company that operates a portfolio of wind and photovoltaic power plants across Europe.
The CMS team was led by Senior Associate Piotr Prawda and Associate Kacper Stanosz.
The Dentons team included Partner Agnieszka Kulinska and Counsel Michal Motylewski.
