CMS advises PFR fund on exit from investment in Jaworzno Power Plant

International law firm CMS has advised Fundusz Inwestycji Infrastrukturalnych – Kapitałowy FIZAN, part of the investment portfolio managed by Polski Fundusz Rozwoju S.A. (PFR), on the sale of shares in Nowe Jaworzno Grupa Tauron sp. z o.o. (NJGT) to Tauron Polska Energia S.A.  

NJGT was responsible for the construction of a new unit in Jaworzno worth over PLN 6bn, one of the largest investment projects in the energy sector in recent years, and is currently the operator of the 910 MW plant. 

On 22 December 2021, after 3 years, Fundusz Inwestycji Infrastrukturalnych – Kapitałowy FIZAN sold all its shares in NJGT in a transaction worth over PLN 1bn. 

CMS provided comprehensive advice to the fund on; the investment in the new unit in Jaworzno in 2018, the construction of one of the newest power plants and the sale of shares in NJGT. 

The interdisciplinary CMS team included lawyers specialising in transactional, regulatory advice for the energy sector, investment, environmental law, competition law and intellectual property rights. 

The CMS team was led by Błażej Zagórski, transactional practice partner, as well as Piotr Ciołkowski, partner and head of the energy regulatory team in Poland. The team included Olga Czyżycka (counsel) and Rafał Burda (senior associate) from the transactional team; Mateusz Mazur (lawyer),  Michał Andruszkiewicz (counsel), Piotr Prawda (senior associate), Jan Radziuk (senior associate), Ada Szon (associate), and Adam Kedziora (senior associate) from the energy and infrastructure projects team. Advice on environmental law was provided by Agnieszka Skorupińska, partner and head of the environmental law team in Poland and CEE, and Maciej Olejnik (senior associate) advised on issues related to intellectual property law.