Simpson Thacher Represents First Reserve in Acquisition of Europe’s Largest Solar Power Plant
10.08.10
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The firm is representing First Reserve in connection with its €276 million ($380.5 million) acquisition of a 70 MW photovoltaic (PV) power plant in Rovigo, Italy from Sun Edison LLC. When completed in the fourth quarter of 2010, the Rovigo plant is expected to be the largest operating solar power plant in Europe.
The acquisition is being made through the previously announced joint venture established between First Reserve and Sun Edison LLC. Sun Edison LLC, which is a minority investor in the joint venture, is a leading worldwide solar energy services provider and a subsidiary of MEMC Electronic Materials, Inc.
The Simpson Thacher team for the transaction includes Bill Curbow and Nick Ferrer (M&A); Barrie Covit, Daniel Lavon-Krein and Amie Siebert (Private Funds); John Creed (Tax) and Joyce Xu, Alina Casner and Daniel Bae (Derivatives).