International legal practice Osborne Clarke has advised Foresight Energy Infrastructure Partners S.C.Sp (FEIP) on a significant investment into geothermal energy company 85 Degrees Renewables.
The investment will enable 85 Degrees to fund a 61.8 MW geothermal energy project in the Netherland's South Holland province, part of the company's goal to deploy 1 GW of geothermal capacity across the country.
Geothermal heat energy is supported by the Dutch government as a strategic priority, given it will contribute to the country’s national emission reduction objectives by decarbonising domestic and industrial heat.
The Osborne Clarke team advising on this transaction consisted of Chris Yeo and Hannah Stevens (both Corporate) in the UK, and Marie-Louise Weeda (Corporate) and Charlie van der Star (Real Estate and Infrastructure) in the Netherlands.
This deal follows FEIP's initial joint venture investment with 85 Degrees into geothermal energy projects in the Netherlands. An international Osborne Clarke team spanning the UK, Netherlands, Belgium and Germany advised the investment manager on the initial transaction in October 2021.
Osborne Clarke has an established and well-respected position as one of the leading legal practices advising on renewable energy projects and transactions. For over 20 years, it has helped clients to seize new opportunities and meet the challenges of making energy generation clean, affordable and secure. The combination of the international team’s experience and understanding of the energy sector means they are regularly called upon to support businesses on all aspects of their commercial, regulatory, corporate, finance and construction legal needs.