Watson Farley & Williams (“WFW”) advised independent French renewable energy operator VALOREM Group on the preparation of a legal due diligence report regarding its 6.6 GW European projects portfolio as part of a proposed €200m fund raising on one side and the sale by 3i Infrastructure of its stake in Valorem on the other side. Both transactions are expected to be completed by Q1 2025.
The €200m cash injection will come from a consortium comprised of AIP Management and IDIA. AIP Management is also acquiring 3i infrastructure’s 33% stake. GSO, IRDI and Bpifrance, via its France Investissement Energie Environnement 2 fund, retain their stakes in the VALOREM Group.
A leader in wind power with over 500 employees, the VALOREM Group has extensive expertise in the full cycle of renewable energy production, from development and operation to construction and audit services. Active in the French West Indies, Finland, Greece and Poland, it has financed over 865 MW.
The multidisciplinary, cross-border WFW team that advised the VALOREM Group was led by Paris Regulatory and Public law Partner Laurent Battoue, supported by Counsel Antoine Bois-Minot and Associates, Juliana Brandao-Marques, Amandine Collard, Catherine Masquelet and Kodou Diouf, on public law and regulatory matters, project contracts and real estate aspects. Paris Corporate and M&A Partner Thomas Rabain, assisted by Senior Associate Pierre Chipaux, and Associates, Mohamed Douib, Chloé Léonard and Thibaut de Toytot provided corporate expertise. Paris Finance Partner Laurence Martinez-Bellet, assisted by Associates Chloé Moriceau and Simon Allain, provided financing expertise. Counsel Ariane Massonnaud and Associate Injun Kim, advised on employment law, with Counsel Hélène Ibos and Associate Marie Dubois advising on tax law. A WFW Athens team comprising Counsel Matina Kanellopoulou, Senior Associates, Tasos Giannopoulos and Vasso Koumpli and Associates, Anthi Antonakou and Fotini Nassou, provided Greek law expertise.
