Hogan Lovells comprehensively advises Encavis Asset Management AG on one of the largest solar parks in Germany

The solar park project is located north of Berlin in Bartow and has a planned generation capacity of 260 megawatts. Construction of the first phase has begun in March 2024, with completion of the construction work planned for 2025. Once completed, the solar park will be one of the largest of its kind in Germany. 

As a leading advisor in the field of renewable energies, Hogan Lovells regularly supports companies in the implementation of sustainable energy projects, thus making an important contribution to the energy transition. A cross-office and cross-practice team of Hogan Lovells provided comprehensive advice to long-standing client Encavis Asset Management AG. Dr Carla Luh, Head of Finance Germany, was responsible for the project financing. The key project contracts, such as the EPC (Engineering, Procurement, Construction) and O&M (Operations & Maintenance) contracts, were managed by Frankfurt-based partner Dr Tobias Faber. Hamburg partner Dr Alexander Koch led the transaction in all PPA-related matters.  

As part of the project financing, the IERP finance team led by Dr Carla Luh advised on the conclusion of a loan agreement structured as portfolio financing with COMMERZBANK Aktiengesellschaft in the amount of approximately EUR 145,000,000.  

The project contracts included the EPC (Engineering, Procurement, Construction) and O&M (Operations & Maintenance) contracts as well as a long-term PPA (Power Purchase Agreement).

Under the 12-year PPA, Encavis will supply LyondellBasell with around 210 gigawatt hours of solar power annually. This corresponds to the annual electricity consumption of around 56,500 European households from 2025. With this latest PPA, the company will achieve more than 90 percent of its targets in the area of electricity generation from renewable energies.

Germany

PPA

Dr Alexander Koch (Partner), Gesa Unland-Miramov, Joy Baur, Dr Daniel Schwiete (Senior Associates), Dr Philipp Glockemann (Associate) (all Corporate Energy);

Project Finance

Dr Carla Luh (Partner), Julian Schmidt, Benedikt Straubinger (Associates), Dr Sven Brandt (Partner), Sebastian Oebels (Counsel), Amy Wienke (Senior Associate) (all Finance);

Alesya Pavlynska (Business Lawyer) (Corporate & Finance);

Project Contracts

Dr Tobias Faber (Partner), Pia Heckenberger, Tobias Schwalm, Tina Sturm (Associates) (all Infrastructure, Energy, Resources and Projects);

Taxes

Dr Mathias Schönhaus (Partner), Jan Meinecke (Associate) (both Tax);

Amsterdam

Dr. Tom van Duuren (Partner), Robert Masman (Partner), Wouter Jongen (Partner), Dylan Goedegebuure (Counsel), Jacob Hoogslag, Chantalle Schoegje, Iléne Baltes (Senior Associates), Quint Verboven, Béatrice Meulen (Associates) (all Corporate & Finance);

Leonore Bruining (Counsel, Litigation);

Luxembourg

Ariane Mehrshahi (Partner), Agnes Merz, Valérie Laskowski (Senior Associates), Carla Valdés Cortés (Associate) (all Corporate & Finance);

Pierre Reuter (Partner, Regulatory).