Herbert Smith Freehills has advised Energea Global LLC on the deal.
Energea Global LLC (“Energea”), an American renewable energy project developer and operator, started a joint venture with VH Global Sustainable Energy Opportunities plc (“GSEO”), an international renewable energy fund listed on the London Stock Exchange, to develop 18 remote distributed solar generation projects across Brazil with a total capacity of 75MW.
The securing of investment and a partner with extensive experience in renewable energy investments across the world is a key milestone for Energea’s expanding renewable energy offerings in Brazil.
In the joint venture, GSEO has put forward an US$63m equity commitment over a number of tranches to co-invest in projects developed by Energea that are at the ready-to-build stage. Energea will also be the operator and can introduce further program assets for the JV company’s approval. Ancillary agreements included an Operating Services Agreement prepared by local Brazilian counsel under Brazilian law.
Herbert Smith Freehills’ London Corporate team was led by Laura Hulett (Picture) and supported by senior associate Eliza Eaton advising on the joint venture and connected agreements. Aurell Taussig and Joshua Lom provided assistance on tax matters.
Law Firms: Herbert Smith Freehills;
Clients: Energea Global LLC;