Hydro Rein has entered into an agreement forming a joint venture with Commerz Real to acquire and develop two solar projects from the Danish developer, GreenGo Energy. Horten has assisted Hydro Rein with all Danish legal aspects in connection with the transaction.
Hydro, one of the leading operators of power production in Norway, has entered into a joint venture-agreement with Commerz Real to acquire and develop two solar PV projects of 362 MW in total. The ambition is to grow the portfolio to 1 GW. The investment provides the parties with rights to the portfolio from the Danish developer, GreenGo Energy.
The two solar projects have an estimated capacity of 170 MW and 192 MW, respectively. The parties have acquired the rights to grow the portfolio to 1 GW from GreenGo Energy who will continue to develop the projects until the start of operations.
The investment is Hydro Rein's first investment in Denmark – and their first solar investment in the Nordics.
Horten hasassisted Hydro Rein, and the transaction marks Horten's continuous focus on and involvement in renewables as one of the leading advisors within the area.
Horten's specialists within Energy, Utilities & Infrastructure have assisted with the process. Responsible partner was Christian Tullberg. Furthermore, Jacob Kornerup, Andreas Schønbeck and Mads Herdichek Langfeldt have assisted with the transaction process.