GÖRG, in collaboration with the Finnish law firm Waselius, advised EB – Sustainable Investment Management (“EB-SIM”) on the acquisition of an 80 per cent stake in the Finnish battery storage project “Icecreek Energy II”. As part of this project, five battery storage systems are to be connected to the grid by June 2027.

EB-SIM, a subsidiary of Evangelische Bank in Kassel, is an active asset manager with a focus on multi-asset funds and investments in renewable energy. Through the closed-end Luxembourg infrastructure fund “EB Energy Transition Europe”, EB-SIM has acquired an 80 per cent stake in five large stand-alone battery storage facilities in western Finland. These are based on state-of-the-art lithium-ion technology and have a total capacity of 34 MW. The total storage capacity amounts to 89 MWh. Construction of the battery storage facilities has already begun and is due to be fully completed by June 2027. The Finnish battery storage provider Cactos Oy is responsible for both construction and maintenance. 

The advisory work focused on due diligence, structuring the transaction, negotiation and implementation, as well as advising on all transaction-related matters. On GÖRG’s side, the mandate was led by partner Thoralf Herbold, who worked alongside Dr Ruth Büchl-Winter and coordinated the cross-border collaboration with Finnish partner law firm Waselius, led by Christoffer Waselius. This close cooperation enabled country-specific legal issues to be efficiently consolidated and ensured comprehensive advice from a single source. At the same time, the transaction underscores the successful international focus and collaboration of GÖRG’s advisory practice.

Advisors EB – Sustainable Investment Management GmbH

GÖRG Partnerschaft von Rechtsanwälten mbB 
Thoralf Herbold (Lead, Partner, Energy Law, Cologne)
Dr Ruth Büchl-Winter (Partner, Corporate Law, Cologne)