B Capital Partners infrastructure fund establishes battery storage platform
Zurich/ Berlin — Baker McKenzie advised infrastructure funds managed by B Capital Partners AG, Zurich, on the establishment of BCP Battery Holding as a platform to acquire a pipeline of battery storage facilities in Germany with a total capacity of over 300 MW. As its first investment in the pipeline, the platform has acquired a 60 MW battery storage project in Eisenach, Thuringia, which is currently under construction and will be the largest industrial battery in the German battery storage market when completed.
The infrastructure funds managed by B Capital Partners implemented the transaction as part of a newly formed joint venture together with other investment funds as co-investors managed by another Zurich-based asset manager.
Baker McKenzie’s work included, in particular, advising on a framework agreement to secure the pipeline, project-related agreements (such as lease, EPC, O&M and marketing agreements), joint venture structure, financing and tax structuring, and transaction agreements related to the acquisition of each project.
“The Baker McKenzie team, led by Claire Dietz-Polte and Holger Engelkamp, was able to assist us with all relevant aspects of the transaction and the project agreements due to their in-depth industry knowledge and outstanding M&A as well as project experience,” commented Dr. Barbara Weber (photo), founder of B Capital Partners.
“I am pleased to see that such innovative and future-oriented investments are growing and thus contributing to the energy transition in Germany,” commented Claire Dietz-Polte. Holger Engelkamp added: “A particular challenge in this transaction was the implementation of various ESG requirements based on an ESG tool developed by our client to ensure that it was truly a sustainable investment.”
Following its first investment in battery storage in Germany in 2020, B Capital Partners, a Zurich-based asset management firm specializing in sustainable infrastructure, has assembled an exclusive pipeline of battery storage assets in Germany from several leading battery storage developers. The pipeline consists of more than 300 MW of battery storage that the newly formed BCP Battery Holding will acquire and build over the next twelve months. Once the construction of the pipeline projects is completed, BCP Battery Holding will be the largest company of its kind in Germany.
Legal advice of B Capital Partners AG: Baker McKenzie
Lead: Corporate/Projects: Dr. Claire Dietz-Polte LL.M. (Partner, Berlin), Holger Engelkamp LL.M. (Counsel, Berlin)
Team: Corporate/Projects: Jasmin Mayerl (Associate, Berlin)
Public Law: Dr. Janet Butler (Counsel, Berlin), Dr. Maximilian Voll LL.M. (Associate, Berlin)
Antitrust: Prof. Dr. Christian Burholt LL.M. (Partner, Berlin), Dr. Katrin Kurz (Associate, Berlin)
Real Estate: Dr. Daniel Bork (Counsel, Dusseldorf)
Insurance: Dr. Peter Stankewitsch (Senior Counsel, Frankfurt)
Tax: Dr. Stephan Behnes (Partner, Frankfurt), Florian Gimmler (Partner, Frankfurt), Dr. Astrid Ruppelt (Counsel, Frankfurt), Cornelia Hoene (Associate, Frankfurt)
Banking & Finance: Kathrin Marchant (Partner, Frankfurt)
About B Capital Partners
B Capital Partners AG is a partner-owned investment house, established in 2003 and Zurich-based. We exclusively focus on core sustainable infrastructure. Since 2010, we have invested and advised capital in excess of EUR 2.6bn across Europe. Our goal is to select superior infrastructure assets for our clients, while adhering to the highest corporate ethic as well as to state-of-the-art ESG standards. We are a signatory to UN PRI as well as to WEPs (Women Empowerment Principles) and a member of GRESB.