Weil advises MW Storage Fund on joint venture for battery storage power plant
Munich/ Arzberg — The Munich office of the international law firm Weil, Gotshal & Manges LLP, together with the Swiss law firm MLL Meyerlustenberger Lachenal Froriep Ltd., has advised MW Storage Fund as anchor investor in a joint venture for the development, construction and operation of Germany’s largest battery storage power plant in Arzberg.
Construction of the battery storage power plant is about to begin and commissioning is planned for early 2025. With a connection capacity of 100 MW and a storage capacity of 200 MWh, the plant will be one of the largest in Europe.
Other joint venture partners are Reichmuth Infrastructure, a leading Swiss asset management company for infrastructure investments in the mid-cap segment, ZENOB, a regional consortium for the construction of wind farms and photovoltaic systems, and the energy company Bayernwerk AG, a subsidiary of E.ON.
The MW Storage Fund is an investment vehicle set up specifically for the battery storage power plant project by the Swiss multi-family office Swiss KMU Partners AG.
The Weil transaction team was led by Munich corporate partner Prof. Dr. Gerhard Schmidt and included counsel Andreas Fogel (photo © Weil) as well as associates Amelie Zabel, Severin Scholz, Laurin Schmidt and Christopher Schletter (all corporate, Munich).
The MLL Legal team was led by M&A Partner Andrea Sieber and supported by Senior Associate Philipp Falk (M&A), Associate Michèle Sidler (M&A) and Partner Daniel Schoch (Banking & Finance).
Weil, Gotshal & Manges is an international law firm with more than 1,100 lawyers. Weil has offices in New York, Boston, Brussels, Dallas, Frankfurt, Hong Kong, Houston, London, Miami, Munich, Paris, Beijing, Princeton, Shanghai, Washington, D.C. and Silicon Valley. In Germany, the firm has two offices and around 60 lawyers/tax advisors in Frankfurt and Munich. The focus here is on providing specialized advice to national and international clients on cross-border private equity and M&A transactions, high-profile litigation mandates, complex restructurings and financings as well as tax structuring.