Norton Rose Fulbright advises Helios Energy Investments in the acquisition of photovoltaic plants

Global law firm Norton Rose Fulbright has advised HUK 5 Italy PV 1 (HUK) in the drafting and negotiation of the agreements with Ermes S.r.l. (Ermes) for (i) the acquisition of the entire corporate capital of Zeus Solare and Società Agricola Apollo Solare 2 (the Targets), (ii) the establishment of a joint venture for the development of additional 5 photovoltaic plants in the Lazio and Molise regions, as well as (iii) the future acquisition of additional 15 photovoltaic plants under development in the Lazio, Abruzzo, Sardinia and Campania regions, for an aggregated capacity of 73 MW.

HUK is a company controlled by Helios Energy Investments group of funds, while Ermes is a company specialized in the design, construction and management of renewable energy plants. The Targets hold all the project rights for the construction and operation of 7 photovoltaic plants in the Lazio Region.

Norton Rose Fulbright assisted HUK in all aspects of corporate M&A, administrative law and due diligence, as well as in the drafting and negotiation of EPC and O&M contracts. The firm also advised EH Real Estate, a company owned - among others - by HUK and Ermes, in all corporate and real estate aspects relating to the purchase of the lands on which some of the photovoltaic plants will be built.

Luigi Costa, Milan-based partner who led on the deal, commented:

“This deal illustrates the attractiveness of Italy for investments by international sophisticated investors. We are pleased to have advised Helios Group in its entry into the grid parity renewable market and are thrilled for the start of the plants’ construction activities – the future looks greener.”

The team also included counsel Ginevra Biadico.