Prague—Dentons advised international energy group Sev.en Energy on the acquisition of the Počerady power plant from the energy group ČEZ. The deal, which was signed in October 2020, successfully closed on December 31, 2020, having received regulatory approvals and completed the conditions precedent.
With a capacity of 1000 MW, Počerady is the largest coal-fired energy generating plant in the Czech Republic.
In October 2020, the parties agreed to transfer ownership of the plant to Sev.en Energy by the end of 2020, instead of in 2024 as initially planned. Under the accelerated timeline, the company will invest into upgrading the plant in order to make it one of the most modern in the Czech Republic and meet all emission standards by 2021.
Partner Petr Zákoucký led the multi-disciplinary Dentons team, with assistance from senior associate Ivo Hartmann and associate Lucie Kubínyiová. The legal team also included members of the M&A, Infrastructure, Real Estate and Banking and Finance practices including Justina Bodláková, Jan Tylš, Michal Pelikán, Adam Přerovský, Barbora Obračajová, Anna Urbanová, Jakub Nosek, Jan Sedlák, Karolína Kubíčková, Jiří Tomola, Martin Manduľák, Ondřej Nymburský, Vojtěch Novák and Petr Kotáb.
About Sev.en Energy
Sev.en Energy owns significant coal and energy production assets in the Czech Republic, the United Kingdom, Australia and the USA. On the Czech energy market, the Sev.en Energy group is a major player with a portfolio including two CHP plants in Kladno and Zlín, the Chvaletice Power Station, and two brown coal surface mines, ČSA and Vršany, in northern Bohemia.
About Dentons
Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com