Shell Overseas Investment B.V.’s Acquisition Of Next Kraftwerke GmbH

CMS advised Shell on all legal aspects of the transaction, while White & Case LLP has advised the founders and shareholders of Next Kraftwerke.Shell Overseas Investment B.V. (Shell) has agreed to acquire 100 percent of the shares of virtual power plant (VPP) operator Next Kraftwerke GmbH from its consortium of shareholders. The parties have agreed not to disclose the volume of the transaction, which is subject to approval by the regulatory authorities. The deal is expected to complete during the second quarter of 2021.

Shell has a presence across the entire energy system,with a  target to be a net-zero emissions energy business by 2050, in step with society’s progress towards achieving net zero. This acquisition is in line with Shell’s customer-focused integrated power strategy that will help the company in its ambition to become a leading provider of clean Power-as-a-Service. Shell aims to sell around 560-terawatt hours of electricity a year by 2030, twice as much as it sells today.

Next Kraftwerke is one of the world’s largest VPP operators, remotely connecting and managing over 10,000 decentralised energy units across eight countries in mainland Europe. These units – which include photovoltaics, bioenergy and hydropower – produce electricity that is traded on the wholesale electricity markets on behalf of Next Kraftwerke’s customers.

The CMS team included Dr Holger Kraft (Picture), Lead Partner, Dr Dirk Baukholt, Counsel, Dr Luise Pelzer, Senior Associate, Laura Moosleitner, Senior Associate, Dr Constantin Lentz, Senior Associate, Marvin Hoffmann, Associate, all Corporate/M&A, Dr Nikolas Gregor, Partner, Intellectual Property, Dr Jörn Heckmann, Counsel, TMC, Christoff Henrik Soltau, Partner, Dr Björn Herbers, Partner, Dr Denis Schlimpert, Senior Associate, Daphne Brunkhorst, Associate, all Competition & EU, Dr Heino Büsching, Partner, Dr Olaf Thießen, Principal Counsel, Dr Martin Mohr, Counsel, all Tax Law, Dorothée Janzen, Partner, Commercial Law, Dr Kerstin Block, Partner, Dr Joachim Kaetzler, Partner, Moritz Gerstmayr, Counsel, all Banking & Finance, Dr Philipp Nonnenmühlen, Senior Associate, Labour, Employment & Pensions in Germany, Dieter Zandler, Partner, Sanela Fürstenberg, Associate, Georg Gutfleisch, Associate in Austria, Alexandre Morel, Partner, Pierre de Kerpoisson, Associate in France and Russell Hoare, Partner in the UK.

White & Case LLP has advised the founders and shareholders of Next Kraftwerke – Eneco, Neuhaus Partners, High Tech Gründerfonds and Hamburg FOR Mobile – with local partner Hans-Georg Schulze (Berlin) and included partners Thomas Burmeister and Tilman Kuhn (Düsseldorf), local partners Thilo Wienke (Düsseldorf) and Thomas Glauden (Brussels) and associates Laura Buchholz, Maximilian von Möllendorff (both Berlin), Stefania Sacuiu (Brussels), Verena Rudolph and Petra Kistner (both Düsseldorf).

Involved fees earner: Alexandre Morel – CMS Bureau Francis Lefebvre; Russell Hoare – CMS Cameron McKenna Nabarro Olswang LLP; Pierre de Kerpoisson – CMS Francis Lefebvre Avocats; Dirk Baukholt – CMS Hasche Sigle; Kerstin Block – CMS Hasche Sigle; Daphne Brunkhorst – CMS Hasche Sigle; Heino Büsching – CMS Hasche Sigle; Moritz Gerstmayr – CMS Hasche Sigle; Nikolas Gregor – CMS Hasche Sigle; Jörn Heckmann – CMS Hasche Sigle; Björn Herbers – CMS Hasche Sigle; Marvin Hoffmann – CMS Hasche Sigle; Dorothée Janzen – CMS Hasche Sigle; Joachim Kaetzler – CMS Hasche Sigle; Holger Kraft – CMS Hasche Sigle; Martin Mohr – CMS Hasche Sigle; Laura Moosleitner – CMS Hasche Sigle; Philipp Nonnenmühlen – CMS Hasche Sigle; Luise Pelzer – CMS Hasche Sigle; Denis Schlimpert – CMS Hasche Sigle; Christoff Soltau – CMS Hasche Sigle; Olaf Thießen – CMS Hasche Sigle; Georg Gutfleisch – CMS Legal; Sanela Fürstenberg – CMS Reich-Rohrwig Hainz; Dieter Zandler – CMS Reich-Rohrwig Hainz; Laura Buchholz – White & Case; Thomas Burmeister – White & Case; Thomas Glauden – White & Case; Petra Karin Kistner – White & Case; Tilman Kuhn – White & Case; Verena Rudolph – White & Case; Stefania Sacuiu – White & Case; Hans-Georg Schulze – White & Case; Maximilian von Möllendorff – White & Case; Thilo-Maximilian Wienke – White & Case;

Law Firms: CMS Bureau Francis Lefebvre; CMS Cameron McKenna Nabarro Olswang LLP; CMS Francis Lefebvre Avocats; CMS Hasche Sigle; CMS Legal; CMS Reich-Rohrwig Hainz; White & Case;

Clients: Eneco; Hamburg FOR Mobile; High Tech Gründerfonds; Neuhaus Partners; Shell Overseas Investment B.V.;

Author: Federica Tiefenthaler