Norton Rose Fulbright advises Ergy Asset Management and Eiffel Investment Group on acquisition of 46 MW / 186 MWh Baczyna battery energy storage project in Poland

Global law firm Norton Rose Fulbright has advised Ergy Asset Management and Eiffel Investment Group, acting through their joint-venture platform company EI BESS 1, on the legal due diligence and acquisition of the 46 MW / 186 MWh Baczyna battery storage project in Poland.

The transaction marks a significant step in the development of a dedicated battery energy storage platform in Poland by Ergy Asset Management and Eiffel Investment Group and reflects the growing interest of international investors in assets supporting the energy transition and grid flexibility.

The Baczyna project represents the first investment completed through the partnership and will form part of a broader portfolio of battery energy storage assets supporting the transformation of Poland's electricity system.

The Norton Rose Fulbright team advised on all aspects of the transaction, including the legal due diligence process, the negotiation of the share purchase agreement (SPA), as well as the establishment of the joint venture framework between the investors. The firm also advised on the negotiation and drafting of the Shareholders' Agreement governing the relationship between EI BESS 1 and its minority shareholder, as well as various post-closing arrangements.

The transaction combined corporate, financing, regulatory and competition law aspects and included a multi-jurisdictional structuring workstream involving both Polish and French law considerations. The mandate required a comprehensive assessment of competition law issues arising in connection with the joint venture structure, alongside the broader legal and commercial workstreams supporting the investment.

The corporate and M&A workstream was led by counsel Krzysztof Jasiński, supported by associate Mateusz Czuba. The legal due diligence workstream was led by counsel Cezary Zawiślak with the involvement of associate Bartosz Odziemkowski. Competition law aspects of the transaction were handled by counsel Wojciech Janik. The entire Norton Rose Fulbright team worked under the supervision of Tomasz Rogalski, partner and head of the energy and project finance practice in Poland.

Krzysztof Jasiński, Cezary Zawiślak and Mateusz Czuba commented:

"We are delighted to have supported Ergy Asset Management and Eiffel Investment Group on this strategic investment in the Polish energy storage sector. Battery energy storage systems will play a critical role in enabling the further integration of renewable energy sources and strengthening the resilience of Poland's electricity network. This transaction demonstrates the growing maturity of the market and the increasing interest of international investors in energy transition assets in Poland. We would like to thank all parties involved for their collaborative and pragmatic approach throughout the process.