White & Case Advises Total Eren on the Acquisition of NovEnergia Holding Company
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Global law firm White & Case LLP has advised Total Eren, a leading French renewable energy Independent Power Producer, on the acquisition of NovEnergia Holding Company, a Southern European Independent Power Producer.
The closing of the acquisition of NovEnergia Holding Company follows the approval of the transaction by the Portuguese Competition Authority after the consent of all the involved stakeholders was confirmed in February 2019.
Through this acquisition, Total Eren diversifies its portfolio of renewable energy assets, significantly increasing its presence in Southern Europe and enhances considerably its asset base, reaching more than 2,200 MW of renewable energy power plants (solar, wind, hydro) in operation or under construction worldwide. NovEnergia Holding Company brings a total gross installed capacity of 669 MW with 47 fully operating assets installed in Portugal, Italy, France, Spain, Poland and Bulgaria, valuing the Company at more than €1 billion (enterprise value).
The White & Case team in Paris which advised on the shareholding, financing and antitrust aspects of the transaction was led by partner Guillaume Vallat together with partner Thomas Le Vert and counsel Orion Berg, with assistance from associate Julien Etchegaray.
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