Watson Farley & Williams ("WFW") has advised Storengy on the acquisition of geoENERGIE Konzept GmbH ("geoENERGIE Konzept") from its owner and founder Mr Rüdiger Grimm.
Storengy bundles the complete natural gas storage operations of French-based global energy group ENGIE. In Europe, Storengy is the market leader for storage services and plans, builds, operates and sells natural gas underground storage facilities. As an innovative partner for a new world of energy, Storengy makes its expertise available to numerous partners to develop geothermal projects (heat and power production) as well as energy storage and Power-to-X solutions. With the acquisition of geoENERGIE Konzept, Storengy strengthens its offering and presence in the German geothermal energy market.
Founded by Mr Grimm in 2007, Freiburg-based geoENERGIE Konzept is recognised as a leading provider of planning-related consultancy services for near-surface geothermal energy projects in both Germany and Europe, having advised on c. 2,000 such projects to date.
The WFW Frankfurt Corporate Team that advised Storengy was led by Partner and Office Head Dr Torsten Rosenboom, working closely with Senior Associate Matthias Murr. Regulatory, public law and competition advice was provided by Hamburg Partners Dr F. Maximilian Boemke and Dr Christine Bader, employment law expertise by Hamburg Partner Dr Andreas Wiegreffe and tax advice by Hamburg Partner Verena Scheibe. Hamburg Real Estate Partner Dr Sebastian Baum and Madrid Corporate Partner Gonzalo Aranzabal also supported Torsten, as did Senior Associates Nora Fleischhauer and Verena Weider, Associates Marc Schwarzer, Daniel Schaub Hernandez, Javier Gabiña and Muteber Yalcin, Transaction Lawyer Christina Deick and Research Associate Leon Hofmann.
Torsten commented: "Having previously advised Storengy on a gas storage disposal, we’re delighted to have advised them on this strategic acquisition which expands their footprint in the growing European geothermal sector”.