5 June 20232 minute read

DLA Piper advises Blue Elephant Energy GmbH on the acquisition of a 120-megawatt solar project portfolio

The Blue Elephant Energy GmbH, a German solar and wind farm operator, was advised by DLA Piper directly and through a joint venture with the Chilean project developer oEnergy Capital.

The portfolio consists of 20 photovoltaic projects, most of which are in operation or nearing completion, located in the regions of Coquimbo, Valparaíso, Metropolitana, O'Higgins, Maule, and Ñuble in Chile. The advisory services included areas such as corporate and tax structuring, as well as legal due diligence of the holding companies and the 20 special purpose entities that own the rights and assets of the 20 projects comprising the portfolio. This involved matters related to corporate, real estate, environmental and electrical permits, mining rights, legal disputes, financing, construction, and operation contracts.

DLA Piper’s legal team in charge of this transaction was led by client relationship partner Sebastian Decker from Germany and partner Diego Peña. Other members participating were in particular partners Mauricio Halpern and Amory Heine, counsel Bernardita Doren, and associates Roberta Andreani, María Isabel Izquierdo, Eduardo Araya, Francisco Argüello, María José Morales, Pablo González, Camila Fajardo, Teresita González, Jacinta Irarrázabal, Cristóbal de la Maza, Friederike Rickers and Jerónimo Zabala.

Decker and Peña commented, “We are proud to have been involved in a transaction of this complexity, which required the collaboration and dedication of multiple teams for both parties, not only in Chile but also in Germany, Spain, the United States, and China. This transaction once again confirms DLA Piper's ability to deploy local and global resources regardless of the transaction size, while gaining experience in highly dynamic sectors such as the energy sector.”