The US private equity investor Blackstone has formed a joint venture with PQ Energy with the aim of investing in power generation facilities and projects across Europe.
The partnership has been formed in response to the change in energy policy in Germany and other European countries and the accompanying switch to renewable energy sources and flexible, low-emission power generation facilities. Blackstone intends to provide the joint venture with the capital required for investments in the power generation sector.
PQ Energy’s team of experts will bring their extensive experience in the energy sector, especially in identifying and taking advantage of investment opportunities, to bear as part of the joint venture with Blackstone.
Gleiss Lutz provided Blackstone with comprehensive legal advice on the formation of the joint venture. The team of Gleiss Lutz lawyers was led by Dr. Jan Bauer and Dr. Cornelia Topf (both partners, corporate/M&A, Frankfurt).
Gleiss Lutz regularly advises Blackstone on transactions, most recently on a number of investments in the energy sector: Dr. Jan Bauer and Dr. Cornelia Topf have already assisted Blackstone with, among other things, the acquisition, development and financing of the offshore wind farm “Meerwind” as well as the acquisition of the offshore wind farm project “Nördlicher Grund”. The “Meerwind” project was recently chosen as “European Offshore Wind Deal of the Year 2011” by Project Finance Magazine.
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