Several Linklaters teams advise on the structuring and financing of the largest solar power plant in Europe, located in Cestas, near Bordeaux
Several Linklaters teams were involved on the structuring and financing of a solar portfolio of 25 plants with a total capacity of 300 MWp located in Cestas (Gironde) and which will be, once completed, the biggest solar plant project in Europe. The plants have been developed by Neoen and will be built by a consortium formed by Eiffage-Clemessy, Schneider Electric and Krinner. The project will benefit from limited recourse financing arranged by Société Générale.
Bruno Derieux, a corporate Partner, advised Neoen in relation to the structuring of the transaction and to the negotiations with the eight investors acquiring majority stakes in certain plants. He was assisted in particular by Alice Magnan, Nicolas le Guillou, Stan Andreassen and Maxime Ponsan.
Francois April, a banking and projects Partner, advised Société Générale, acting as sole arranger of the limited recourse financings put into place in the context of this transaction. He was assisted by Samuel Bordeleau and Aurélie Chavinier on banking and projects matters while Amaury Chautard provided support on real estate matters.
Paul Lignières, Partner, was involved on the public law aspects of the project. He was assisted by Pierre Guillot, Fanny Mahler and Marianna Frison-Roche.
Edouard Chapellier was in charge of the tax structuring of the transaction with the help of Nadine Eng, associate.
Linklaters in Paris is recognised for its experience in the energy sector, and is regularly appointed by investors, sponsors and banks alike in major transactions in France, including renewable energy projects. In the last few years, it advised in particular Ardian (formerly known as AXA Private Equity) and Neoen on the acquisition of Poweo’s renewable energy assets, Mirova on joint ventures with Holmen and Platina in Swedish wind energy assets, GDF Suez on its bids for offshore wind projects in Noirmoutier and Le Tréport and Marubeni in relation to the acquisition of renewable energy assets from GDF Suez in Portugal. In the last three years, our Paris office was also involved in a large number of greenfield renewable energy project financings (wind and solar) with an aggregate installed capacity of more than 830 MW, and also participated in refinancings, acquisitions and disposals of operational projects portfolios with a total installed capacity superior to 1300 MW.
On the international front, Linklaters Paris has recently advised commercial lenders and export credit agencies on the landmark US$1.4 billion equivalent multi-currency limited recourse project financing of the Jorf Lasfar IPP Expansion in Morocco, and currently advises the lenders on the Safi IPP, also in Morocco. It has advised GDF Suez on the merger of its international energy division with International Power and on the acquisition by China Investment Corporation (CIC) of a 30% stake in its Exploration & Production division and of a 10% stake in LNG Atlantic.
Linklaters is also one of the first firms to have created a team specifically dedicated to renewable energy within its international network, and is an active member of the French SER (Syndicate of Renewable Energy).
Other legal advisors
De Pardieu Brocas Maffei advised Neoen for the project and financing aspects of the transaction. The team was led by Jean-Renaud Cazali, Partner, who was assisted by Christine Le Bihan-Graf and Guillaume Sauvage.
Gide Loyrette Nouel (Marie Bouvet-Guiramand and Sylvain Bergès, counsels) advised Eiffage-Clemessy, Schneider Electric and Krinner.
