CMS and Weil Advise on Modus Group Sale of Photovoltaic Projects in Poland

CMS and Weil Advise on Modus Group Sale of Photovoltaic Projects in Poland

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CMS has advised the Modus Group on its sale of 49 solar power plants in Poland to Aberdeen Standard Investments SL Capital Infrastructure II fund. Weil, Gotshal & Manges advised the buyers on the deal.

The value of the transaction was not disclosed.

According to CMS, construction of the solar power parks, which produce a total of 45.4 megawatts, was completed this year.

The projects were developed by Green Genius, a company owned by the Modus Group, which is headquartered in Vilnius and was established in 1993. The Modus Group focuses on renewable energy, mobility services, smart parking solutions, and the auto business. It owns photovoltaic projects in Spain, Italy, Lithuania, and Ukraine.

Aberdeen Standard Investments was founded in 2017 in Edinburgh, Scotland. The fund is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments. 

The CMS Warsaw team consisted of Partner Rafal Zwierz, Andrzej Posniak, and Piotr Ciolkowski, Lawyer Irmina Wolska, Senior Associates Olga Czyzycka, Malgorzata Sajkiewicz, and Grzegorz Paczek, and Associate Rafal Burda. 

The Weil team was led by Counsel Marek Durski and included Senior Associate Jakub Krzemien and Associates Barbara Skardzinska, Adrian Augustyniak, Kacper Stanosz, Arkadiusz Karwala, Andrzej Granat, and Piotr Stawowski.