NautaDutilh assists Eiffel Transition Infrastructure with acquisition
NautaDutilh assisted Eiffel Transition Infrastructure with its acquisition from Green Genius of a minority interest in a Dutch joint venture with respect to the development of solar PV projects in Italy. In addition to providing equity to the joint venture, Eiffel Transition Infrastructure will also provide debt financing for the development of the Italian solar PV projects, particularly for their development up to projects' COD. Eiffel Transition Infrastructure will develop these projects further with Green Genius, which belongs to the Lithuanian business group Modus Group.
This joint venture further strengthens the cooperation between Eiffel Transition Infrastructure and Green Genius with a view to develop and build green energy projects across Europe. This transaction was exceptional as the financing is not granted to a single ready-to-build project but to a portfolio of projects finishing their development in order to finance their pre-construction capex, while benefiting from the diversification of the portfolio.
Eiffel Transition Infrastructure, managed by Eiffel Investment Group, invests in corporates and in infrastructures, with debt and equity strategies. The firm focuses on sustainable investments and the energy transition. Backed by entrepreneur Jacques Veyrat’s Impala group (very active in clean energies), Eiffel Investment Group cultivates a strong industrial expertise and is a long-term partner for the companies it invests in.
For the due diligence exercise and the documents governed by Italian law, we teamed up with Green Horse. Green Horse is a boutique firm exclusively dedicated to the field of green economy and energy transition toward sustainability. Their legal team consists of the former Orrick Italian Energy and Structure team.
Pierre-Antoine Machelon, head of Infrastructure at Eiffel, states: “This investment is the result of a long-standing collaboration with Green Genius with whom we are very pleased to partner on this new platform. This is the second investment in our equity strategy launched in November 2022 to accelerate the development of renewable projects in Europe through the Eiffel Transition Infrastructure fund.”
The NautaDutilh team was led by Joost Kooren and consisted further of Ernst van de Luijtgaarden, Lena Jamalov, Paul Giebels, Michelle Meevis, Huub Verschoor, Jaco Belder and Pieternel Verhoeven - van den Brink.
Gaike Dalenoord says: "Yet another matter supporting the electrification of Europe, a small step for the NautaDutilh Corporate Energy/ESG team and a large step for our new French client Eiffel Capital".
Eiffel Investment Group and Green Genius team up to complete 500 MW of solar in Italy