CMS advises on the largest photovoltaic project in Poland
15 July 2019
CMS has advised Modus Group, one of the leading developers in the renewable energy sector, during the investment process and the sale of 49 solar power plants to Aberdeen Standard Investments, a global asset manager. The sale of the solar power plants portfolio with a total power output of 45.4 megawatts (MW) is said to be the biggest transaction involving solar power parks in Poland to date. The value of the transaction has not been disclosed.
CMS provided to Modus Group comprehensive transactional advice related to the disposal of the power plants. CMS also advised on certain tax and regulatory issues related to the transaction. The team of lawyers involved in the sale of the power plants comprised: Rafał Zwierz, partner, head of CMS’s M&A practice and Olga Czyżycka, senior associate, with support from Grzegorz Pączek, senior associate and Rafał Burda, associate, from the M&A team. Piotr Ciołkowski, partner, head of the regulatory practice for the energy sector, handled the regulatory aspects while Andrzej Pośniak, head of the tax practice and Małgorzata Sajkiewicz, senior associate from the Warsaw tax practice, were responsible for the tax structuring of the transaction. Ongoing advice related to the development process of photovoltaic projects was provided by Irmina Wolska, lawyer, from CMS’s real estate team.