12 October 2011
Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised White Owl Capital (“WOC”) on the acquisition of five ground-mounted solar parks in Lombardy and Emilia Romagna, Italy. The solar parks were acquired from Gehrlicher Solar Italia S.r.I., a subsidiary of Gehrlicher Solar AG (“Gehrlicher Solar”), and have a total capacity of approximately 10.4 MWp.
White Owl Capital is an issuing house for closed-end funds with a focus on solar and sustainable investments, and one of the leading issuing houses for renewable energy funds in Germany. It is also a member of the Closed-End Funds Association.
Gehrlicher Solar is a German photovoltaic company, with international operations in Brazil, France, India, Italy, Spain, South Africa, the UK and the USA. It has over 400 employees worldwide and is one of the ten largest independent photovoltaic project developers and system integrators.
WFW has advised WOC for many years on the structuring of renewable energy funds and the acquisition of projects in France and Italy. This project fielded an Italian-German team led by Gerrit Bartsch and Eugenio Tranchino, from WFW’s Hamburg and Milan offices respectively.
The rest of the team consisted of Stefan Hoffmann (Hamburg, Corporate) and Martina Füchsl (Munich, Tax); Luca Sfrecola, Tiziana Manenti, Rona Persichetti, Nataliya Hinda (all Rome, Corporate and Energy); and Raffaele Villa (Milan, Tax).
Gerrit Bartsch, partner in the Watson, Farley & Williams Tax Group comments: “This project demonstrates WFW’s cross-border capabilities, and the importance of a close relationship between our German and Italian offices as it combined legal, tax and regulatory aspects in both jurisdictions”.