Allen & Overy advises Eni on the acquisition of Dhamma Energy Group
27 July 2021
Allen & Overy has advised Eni on the acquisition, through Eni gas e luce, of Dhamma Energy Group (“Dhamma”) from the relevant founding partners. The company holds a platform for the development of solar plants in France and Spain.
Dhamma’s asset portfolio comprises an almost 3GW pipeline of projects at various stages of development across both countries and includes plants already in operation or in advanced development generating around 120 MW in France.
The acquisition is part of Eni’s plan to achieve expansion targets for renewable power generation capacity and integrate with its retail activities in the French and Spanish markets.
The Allen & Overy cross-country and cross-department team was led and coordinated by Italy Corporate partner Paolo Ghiglione, supported by trainee Matteo Bortolamai, with teams in Luxembourg, France and Spain led by partners Fabian Beullekens, Alexandre Ancel and Ignacio Hornedo.
Paolo Ghiglione commented: “We are proud to have advised a leading company like Eni on this outbound acquisition, contributing to its expansion in Spain and France and to its growth in the renewable sector.”
Completion of the transaction is subject to the achievement of the customary authorisations.