Watson Farley & Williams (“WFW”) is pleased to announce that two deals the firm advised on won at the IJGlobal ESG Awards 2024, which attracted over 600 submissions globally from across the infrastructure and energy sectors.
WFW advised KGAL`s Article 9 Impact Fund KGAL ESPF 6, on its inaugural investment in a project being developed by Arcadia eFuels to build a hydrogen-based e-kerosene (eSAF) production plant in Vordingborg, Denmark. This large-scale facility will be the first of its kind in the EU, accelerating the adoption of decarbonised fuel for the aviation industry to meet current and future demands. The project is expected to produce around 68,000t per year of synthetic, climate-neutral aviation fuel from self-produced green hydrogen. This deal won the Power-to-X Award – Aviation.
Renewable Energy Award – Geothermal was won by Eavor’s €350m investment to build its first commercial-scale Eavor-Loop geothermal project in Geretsried, Bavaria, Germany. Eavor has developed the world’s first truly scalable form of clean, dispatchable, baseload capable and flexible heat and power production system through its patented Eavor-Loop technology. WFW advised Eavor on all aspects of the ongoing project from finalising the project contracts and related purchase agreements to the integration of EU subsidies, structuring the equity participation and the first-of-its-kind project financing.
Munich Corporate and Private Equity Partner Dr Dirk Janssen, who led the multi-disciplinary German team that advised KGAL commented: “We are delighted that such a ground-breaking transaction on which we advised our long-standing client KGAL was recognised by IJGlobal. This transaction underlines our ability to advise on complex, cross-border transactions using both our private equity expertise and market-leading experience advising on large-scale infrastructure and renewable energy projects”.
Hamburg Project and Structured Finance Partner Sven Fretthold, Hamburg Partners Carolin Woggon and Max Boemke and Munich Partner Christian Bauer and Felix Siebler who advised Eavor said: “Eavor’s project is a testament to groundbreaking innovation in the energy sector. When completed, the project will supply heat to homes and businesses, whilst an on-site power plant will convert geothermal heat into electricity. Successfully combing funds from a variety of sources with a multidisciplinary team was equally challenging and rewarding. We are proud to advise on this award-winning project, demonstrating how our expertise supports pioneering solutions in sustainable energy”.
