GNZ Legal Gorzelnik Nentwig Ziebinski has advised Modus Asset Management on its ten-year virtual power purchase agreement to supply 50 gigawatt-hours of solar energy per year to off-taker Zabka Polska. CMS reportedly advised Zabka Polska.
Modus Asset Management is a licensed fund management company, operating under the supervision of the Bank of Lithuania. The company focuses on renewable energy investments.
Zabka Polska, part of CVC Capital Partners, is a convenience store chain in Poland. It operates around 9,000 stores across the country.
Back in 2021, GNZ Legal had also advised Modus Asset Management on the refinancing of its Polish photovoltaic portfolio (as reported by CEE Legal Matters on December 20, 2021).
The GNZ Legal team was led by Partner Andrzej Nentwig.
Editor's Note: After this article was published, CMS confirmed it had advised Zabka Polska on its long-term VPPA with companies managed by Modus Asset Management. The firm's team was led by Partners Michal Andruszkiewicz and Lukasz Szatkowski and included Senior Associates Adam Kedziora and Kacper Stanosz.
