Hamburg – Shell Overseas Investment B.V. (Shell) has agreed to acquire 100 percent of the shares of virtual power plant (VPP) operator Next Kraftwerke GmbH from its consortium of shareholders. The parties have agreed not to disclose the volume of the transaction, which is subject to approval by the regulatory authorities. The deal is expected to complete during the second quarter of 2021.
A CMS team headed by lead partner Dr Holger Kraft advised Shell on all legal aspects of the transaction.
Shell has a presence across the entire energy system,with a target to be a net-zero emissions energy business by 2050, in step with society’s progress towards achieving net zero. This acquisition is in line with Shell’s customer-focused integrated power strategy that will help the company in its ambition to become a leading provider of clean Power-as-a-Service. Shell aims to sell around 560-terawatt hours of electricity a year by 2030, twice as much as it sells today.
Next Kraftwerke is one of the world’s largest VPP operators, remotely connecting and managing over 10,000 decentralised energy units across eight countries in mainland Europe. These units – which include photovoltaics, bioenergy and hydropower – produce electricity that is traded on the wholesale electricity markets on behalf of Next Kraftwerke’s customers.
Dr Holger Kraft, Lead Partner
Dr Dirk Baukholt, Counsel
Dr Luise Pelzer, Senior Associate
Laura Moosleitner, Senior Associate, Dr Constantin Lentz, Senior Associate
Marvin Hoffmann, Associate, all Corporate/M&A
Dr Nikolas Gregor, Partner, Intellectual Property
Dr Jörn Heckmann, Counsel, TMC
Christoff Henrik Soltau, Partner
Dr Björn Herbers, Partner
Dr Denis Schlimpert, Senior Associate
Daphne Brunkhorst, Associate, all Competition & EU
Dr Heino Büsching, Partner
Dr Olaf Thießen, Principal Counsel
Dr Martin Mohr, Counsel, all Tax Law
Dorothée Janzen, Partner, Commercial Law
Dr Kerstin Block, Partner
Dr Joachim Kaetzler, Partner
Moritz Gerstmayr, Counsel, all Banking & Finance
Dr Philipp Nonnenmühlen, Senior Associate, Labour, Employment & Pensions
Dieter Zandler, Partner
Sanela Fürstenberg, Associate
Georg Gutfleisch, Associate
Alexandre Morel, Partner
Pierre de Kerpoisson, Associate
Russell Hoare, Partner