Hamburg, 13.09.2024 – The energy company VPI, which is backed by the largest independent energy trader in the world, Vitol, intends to invest up to 450 million euros in battery projects in Germany over the next three to five years. The company already owns energy plants in the UK and Ireland. The announced project, which is planned as a joint venture with the energy storage company Quantitas Energy, is VPI's first investment in Germany. VPI will hold a majority stake in the joint venture.
The investment will be used to develop a battery storage capacity of 500 megawatts over the next three to five years, particularly in north-eastern Germany. Currently, ten projects are planned, most will have a capacity of ca. 60 megawatts.
A CMS team headed by Dr Holger Kraft advised VPI on all legal aspects of this joint venture. Dr Kraft's team regularly advises on large transactions in the energy sector.
CMS Germany
Dr. Holger Kraft, Lead Partner
Matthias Sethmann, Principal Counsel
Dr. Christoph Löffler, Counsel
Dr. Stefan Kühl, Senior Associate, all Corporate/M&A
Dr. Christian Scherer, Partner
Gwendolyn Heinzke, Senior Associate, both Public
Dr. Hans Fabian Kiderlen, Principal Counsel
Stephanie Schulz, Legal Coordinator, both Real Estate
Dr. Philipp Nonnenmühlen, Counsel, Labor, Employment & Pensions
Joel Coché, Associate, Commercial
Shaghayegh Smousavi, Partner, Energy Law
CMS Norway
Dag Thomas Hansson, Partner
Ida Johanne Bohmann, Senior Lawyer
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