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White & Case Advises Next Kraftwerke on Acquisition by Shell

Global law firm White & Case LLP has advised the founders and shareholders of Next Kraftwerke – Eneco, Neuhaus Partners, High Tech Gründerfonds and Hamburg FOR Mobile – on the sale of 100 percent of their shares to Shell Overseas Investment B.V (Shell). 

The parties have agreed not to disclose the volume of the transaction, which is subject to approval by the regulatory authorities. The deal is expected to complete during the second quarter of 2021.

After completion of the transaction, Next Kraftwerke will remain an independent company and brand as part of Shell's Renewables & Energy Solutions division and will be led by its existing management team.  

Next Kraftwerke is one of the world's largest VPP operators, remotely connecting and managing more than 10,000 decentralised energy units across eight countries in mainland Europe: Germany, Belgium, Austria, France, Poland, the Netherlands, Switzerland and Italy. These units – which include photovoltaics, bioenergy and hydropower – produce electricity that is traded on the wholesale electricity markets on behalf of Next Kraftwerke's customers. 

Shell has a presence across the entire energy system,with a  target to be a net-zero emissions energy business by 2050, in step with society's progress towards achieving net zero. This acquisition is in line with Shell's customer-focused integrated power strategy that will help the company in its ambition to become a leading provider of clean Power-as-a-Service. Shell aims to sell around 560-terawatt hours of electricity a year by 2030, twice as much as it sells today.

The White & Case team which advised on the transaction was led by local partner Hans-Georg Schulze (Berlin) and included partners Thomas Burmeister and Tilman Kuhn (Düsseldorf), local partners Thilo Wienke (Düsseldorf) and Thomas Glauden (Brussels) and associates Laura Buchholz, Maximilian von Möllendorff (both Berlin), Stefania Sacuiu (Brussels), Verena Rudolph and Petra Kistner (both Düsseldorf).

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