The favourable wind and solar conditions coupled with the liberalization of the Greek energy market have paved the way for a significant amount of investment in Greece, making energy one of the key driving forces of the local economy. Our law firm has actively followed these developments and has gained significant know-how and experience in this field, particularly in relation to the acquisition of renewable energy projects.
Our expertise in the area spans across all stages of an energy deal, starting from the legal review of a project to the consummation of the transaction. More specifically, we have extensive experience in:
- Undertaking detailed legal due diligence reviews of renewable energy projects, with a view to identifying and mitigating areas of potential legal risk. Such reviews cover all matters pertaining to a target company’s corporate issues, its contractual relationships as well as licensing and land issues.
- Advising on the structuring of a transaction, drafting the relevant transaction documentation and providing ongoing support with respect to the negotiation and execution thereof (including offers to purchase, letters of intent, memoranda of understanding, sale and purchase agreements, shareholders agreements etc).
Work Highlights in the area of Energy
Our recent work in the area of Energy in general, and Renewable energy sources in particular, includes the following:
Acquisition of majority stake in a photovoltaic company
We advised the Greek subsidiary of a major player in the global renewable energy market in the acquisition of a majority stake in a Greek company owning a large portfolio of photovoltaic projects located around the country. Our work for the matter included, inter alia, an extensive legal due diligence review of the Target Company, the preparation of a due diligence report, the drafting and negotiation of the transaction documentation (including a share purchase agreement and a shareholders’ agreement) and assistance with the closing of the transaction.
Our firm advised a Greek developer with regard to the handling of his claims for outstanding fees in the context of a development agreement with a foreign renewable energy company owning a number of renewable projects in Greece.
Acquisition of wind projects
Kommatas & Associates acted on behalf of a foreign renewable energy company with respect to the acquisition of five (5) companies owning a number of wind projects in Crete, Macedonia and the Peloponnese as well as a hybrid project. In this context we carried out a due diligence review, drafted and negotiated the share purchase agreement and assisted with the requisite merger filings before the Hellenic Competition Commission.
Legal Due Diligence review
We carried out a due diligence review for the potential acquisition by a Greek renewable energy Company of three special purpose companies owning a portfolio of solar projects in the Prefectures of Florina, Larissa and Korinthos.
Our firm assisted with the drafting, negotiation and execution of a shareholders’ agreement with regard to the operation of a renewable energy company owning a portfolio of solar projects.