CC breezes off with €1.8bn wind power deal
Magic circle giant Clifford Chance (CC) has advised longstanding client International Power on its €1.8bn (£1.2m) agreement to acquire the Trinergy wind power portfolio in Italy and Germany. The deal sees International Power - an independent electricity operator with plants in 17 countries - acquire the Trinergy portfolio from private investors connected with the Matrix Group and CJS Capital Partners.
August 10, 2007 at 08:52 AM
2 minute read
Magic circle giant Clifford Chance (CC) has advised longstanding client International Power on its €1.8bn (£1.2m) agreement to acquire the Trinergy wind power portfolio in Italy and Germany.
The deal sees International Power – an independent electricity operator with plants in 17 countries – acquire the Trinergy portfolio from private investors connected with the Matrix Group and CJS Capital Partners.
The CC team was led by London-based joint head of global energy and utilities Andrew Grenville and corporate finance partner Brendan Moylan.
Rival magic circle law firm Allen & Overy advised the vendors, with corporate partner Susan Howard leading the team alongside banking partners Julian Harris and Nicholas Williams.
Commenting on CC's role, Grenville said: "We have worked with International Power on a number of transactions over the years, including supporting them in the development of their portfolio of wind farms, and we are delighted that we were able to assist on such an important transaction for them."
International Power chief executive Philip Cox added: "This acquisition adds a high quality, large scale operating wind farm portfolio in Italy and Germany to our European renewables business. Both Italy and Germany are attractive markets with significant growth targets for renewable generation, supported by clear regulatory frameworks."
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