30 November 2021
McCann FitzGerald LLP Advises Coillte on its Landmark JV with ESB to Deliver €1.5bn Renewable Energy Project
McCann FitzGerald LLP advised Coillte (Ireland’s largest landowner, forestry and energy semi-State) on its formal agreement with ESB for the creation of a 50:50 joint venture (FuturEnergy) focused on developing a pipeline of renewable energy facilities in Ireland. FuturEnergy’s ambition is to deliver one gigawatt of renewable energy by 2030, mainly from onshore wind.
Our role included advising on all regulatory aspects (including competition law and procurement), legal structure and on all corporate and commercial transaction documentation.
Competition and Consumer Protection Commission approval for the transaction was obtained on 5 February 2021, and Ministerial consents were obtained in late November 2021 thus allowing the transaction to formally complete on 29 November 2021.