White & Case Advises Eren Renewable Energy on Combination with Total
Global law firm White & Case LLP has advised Eren Renewable Energy on its combination with Total, which was announced on September 19, 2017.
Total will acquire a 23 percent indirect interest in Eren Renewable Energy by subscribing to a €237.5 million capital increase. Under the terms of the transaction, Total has an option to take control of Eren Renewable Energy after a period of five years. The completion of the transaction remains subject to the approval of the relevant competition authorities.
Eren Renewable Energy will be renamed Total Eren upon completion of the deal, which will allow Total to enter the wind power generation sector and complements its existing portfolio of renewable energy businesses. White & Case also advised Eren on its previous capital increases.
Eren was established in 2012 by Pâris Mouratoglou and David Corchia, and has developed a diversified asset base (notably wind, solar and hydro) representing a global installed gross capacity of 650 MW in operation or under construction.
The White & Case team in Paris which advised on the transaction was led by partners Guillaume Vallat and Thomas Le Vert with support from associates Noémie Baroux and Julien Etchegaray. Counsel Orion Berg advised on competition aspects.
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