Watson Farley & Williams (“WFW”) has advised Valorem, an independent French green energy operator, on the signing of two Corporate Power Purchase Agreements (“CPPAs”) with Mousquetaires Group, a leading player in the retail sector, for a total volume of 1.1 TWh over a period of 20 years as part of the financing of two onshore wind projects.
This marks the first wind CPPAs for Valorem and the fourth and fifth for Mousquetaires group. The annual electricity production of these two projects will reach 57 GWh and will supply Mousquetaires Group’s retailers, logistic centres and production units.
A leader in wind power with over 460 employees, Valorem 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, the Group has financed over 837 MW and holds a portfolio of 5.7 GW projects under development.
Founded in 1969, Mousquetaires Group gathers together over 3,000 independent entrepreneurs and 150,000 employees to support the performance of nearly 4,000 local retailers in France, Belgium, Poland and Portugal. It provides its own support services to meet the needs of its brands, as well as an agri-food division with nearly 60 factories in France.
The WFW Paris team that advised Valorem was led by Regulatory and Public law Partner Laurent Battoue, supported by Associate Juliana Brandao-Marques. Partner Laurence Martinez-Bellet and Associate Sophie Rivallain advised on financing aspects of the transaction.
