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DWF advised a fund managed by KGAL on the acquisition of a portfolio of wind farms in Poland

24 June 2020
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DWF Poland's lawyers advised the ESPF 4 fund managed by KGAL on the purchase and preparation for construction of two wind farms from the CEZ Group.


DWF Poland's lawyers advised the ESPF 4 fund managed by KGAL on the purchase and preparation for construction of two wind farms from the CEZ Group.

The transaction consisted in the acquisition of two wind farms, Krasin and Sakówko, with a total capacity of 40 MW.

"DWF’s experience in the renewables sector and its hands-on mentality made this a smooth transaction. We are glad to have them in our advisors team while expanding our activity in Poland.” said Hauke Sievers, Transaction Manager of KGAL Investment Management, responsible for the transaction.

The scope of DWF Poland's advisory included due diligence, preparation of transaction documentation, its negotiation with the seller as well as support in the closing phase of the transaction and subsequent conclusion of the wind turbine supply and installation contract. The work was complemented by our tax advisory. 

The project was supervised by Karol Lasocki, Head of Renewable Energy at DWF as well as Rafał Woźniak, Corporate M&A partner, Rafał Morek, Dispute Resolution, Arbitration and Construction partner, and Adrian Jonca, Tax partner. The team of lawyers engaged also included Wiktoria Rogaska, counsel, Małgorzata Lesiak-Ćwikowska, counsel, Katarzyna Stec, senior associate, Maria Kierska, associate, Olga Wiśniewska-Pietrzak, associate, Joanna Derlikiewicz, junior associate as well as Krzysztof Jagiełło, senior associate, Konrad Suchojad, associate, Piotr Michajłow, associate, Bartosz Boenigk, junior associate and Michał Celiński, junior associate.

The first investments of the ESPF 4 fund in Poland consisted in a joint venture relating to the implementation of photovoltaics projects and a ready-to-built wind farm project. The fund has now further expanded its Polish presence, complementing KGAL’s portfolio of renewable energy projects, which it manages in nine other European countries.

"We would like to thank KGAL for the trust and the continuing cooperation. We are pleased that this is another important transaction for the RES sector in Poland over the last months, in which our law firm has advised. Our lawyers from the transaction team and the renewable energy team have demonstrated specialist knowledge and business sense." - said Karol Lasocki, Head of Renewable Energy at DWF.

The KGAL Group is a leading independent investment and asset manager with an investment volume of €20.2 billion. The investments focus on long-term capital investments for institutional and private investors in real estate, infrastructure and aviation. The Group, founded more than 50 years ago, operates across Europe and has its registered office in Grünwald near Munich. Taking into account aspects of return and risk, 371 employees help achieve stable yields on a lasting basis.

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