Watson Farley & Williams advised Creditas on acquisition of Intergen Projects
The investment group will assume ownership of the power producer’s growth projects and Edinburgh headquarters
Watson Farley & Williams advised Creditas on acquisition of Intergen Projects
The investment group will assume ownership of the power producer's growth projects and Edinburgh headquarters
Watson Farley & Williams has advised the Creditas Group on its acquisition of InterGen Projects (UK) Limited and its UK business from InterGen's parent company.
InterGen is one of the largest independent power producers in the UK with around 2,800 MW in operations between three combined cycle gas turbine (CCGT) plants and an open cycle gas turbine (OCGT) plant.
Creditas has been active in the energy sector since 2013. Its energy division is the fourth-largest energy distributor in the Czech Republic. It primarily targets ownership interests in companies engaged in the production, distribution and trading of electricity, gas and heat.
It will now assume ownership of all InterGen's UK sites, including its growth projects, Edinburgh headquarters and employees. Also included in the acquired assets is a 450 MW battery energy storage system project, which is due to commence operations in 2025.
Daisy East, the project's partner at Watson Farley & Williams commented, "We are delighted to have advised Creditas on this important acquisition which enables it to expand its footprint outside of the Czech Republic and into the UK market. This deal highlights our multi-disciplinary expertise in the sector, including on major corporate energy acquisitions".
Advising Creditas, the London energy team of Watson Farley & Williams was led by projects partner Daisy East and corporate partner Jan Mellmann.
Other partners included Chris Kilburn (Corporate), Solange Leandro (Competition) and Nick Walker (Planning and EHS).
Senior associates Nerina Erasmus and David Bath and associate Jamie Tiru provided assistance on corporate matters.
Senior associate Valentina Keys assisted on EHS law and senior asociates John Rosmini and Peter Rutledge on real estate matters.
Senior associate Marianne Anton provided regulatory assistance.
Watson Farley & Williams also worked closely with David Vosol and Marc Mueller, partners in bpv Braun Partners in the Czech Republic.