Watson Farley & Williams (“WFW”) advised Stark Energie GmbH (“Stark Energie”), a subsidiary of Stark Energy Limited, on its sale of a 127 MWp solar portfolio to Greencells GER B.V. (“Greencells”), marking its first such divestment in Germany. As part of the transaction, WFW also advised on the signing of a joint project development agreement between Stark Energie and Greencells for three projects up to ready-to-build status.
This partnership strengthens both companies in the German PV market, bringing together Stark Energie’s project development experience and Greencells’ EPC (Engineering, Procurement and Construction) and O&M (Operations & Maintenance) expertise.
Stark Energie is a renewable energy developer specialising in German solar PV projects and part of UK-based Stark Energy Group. It has developed projects with 1+ GWp capacity in the UK and Germany, with a further 610 MWp currently under development in Germany.
Saarbrücken-based Greencells is one of Europe’s largest EPC and O&M service providers in the solar sector with a portfolio with an installed capacity of 3+ GWp.
The multi-disciplinary WFW Germany team that advised Stark Energie was led by Corporate Partner Dr Wolfram Böge, supported by Hamburg Associates Marian Henkes, Daniel Schaub and Frankfurt Counsel Daniel Erd. Hamburg Partner Dr F. Maximilian Boemke and Associate Dr Philipp Kleiner advised on regulatory issues; Hamburg Partner Dr Sebastian Baum, Associate Josephina Knauf and Transaction Lawyer Stefanie Igl provided real estate advice; and Hamburg Partner Verena Scheibe and Senior Associate Manuel Rustler advised on tax law.
Wolfram commented: “We are pleased to have advised our long-standing client Stark Energie on this important step. This mandate once again underscores our market-leading expertise advising on big ticket solar M&A transactions”.
