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Fieldfisher has advised the IKAV Group on the sale of geox GmbH, the operator of a geothermal plant in Landau. The buyer is Vulcan Energie Ressourcen GmbH, with the aim of supplying the Landau region with renewable energy. The IKAV Group was advised by the Fieldfisher Energy and Real Estate Team led by Daniel Marhewka.
IKAV Group is an international asset management group that provides institutional investors with investment solutions in a wide range of infrastructure energy assets, including solar energy, concentrated solar energy, wind energy, energy efficiency, geothermal energy, thermal power plants and upstream. As part of the optimisation of its investment portfolio, IKAV has now sold geox GmbH to Vulcan Energie Ressourcen GmbH ("Vulcan"). As part of this acquisition, Vulcan plans to supply renewable heat to Landau households via EnergieSüdwest AG (ESW) during the 2024-2025 heating season. In order to be able to provide this heat in a timely manner, the parties began planning the necessary maintenance work at the beginning of the year. The revision of the production well started at the beginning of this week and is expected to be completed by the end of October. In addition, Vulcan will complete the installation of the necessary heat exchangers.
The acquired geothermal plant will be used in the future for both the carbon-neutral heat supply of existing heating networks in Landau and the carbon-neutral extraction of lithium chloride. Vulcan's lithium extraction optimisation plant (LEOP), which is located directly next to the geothermal plant, has been producing green lithium chloride – an intermediate product that is further processed into lithium hydroxide monohydrate (LHM) – since April 2024.
Fieldfisher advised the IKAV Group on all aspects of this transaction. The advice included in particular the design and negotiation of the acquisition documentation for the shares in geox GmbH, but also the real estate and tax aspects of the transaction.
Fieldfisher: Daniel Marhewka (Partner, Co-Head of the Energy, Natural Resources & Sustainability Group, lead), Dr Sebastian Kamm (Partner, Corporate, lead), Tassilo Schmid (Counsel, Corporate), Korbinian Grießl (Associate, Corporate), Anna Neumann (Associate, Energy Law), André Suttorp (Partner, Tax), Maureen Pitzen (Counsel, Real Estate), Micha Heise (Associate, Real Estate), Dr. Jean Pascal Slotwinski-Michel, LL.M. (Edinburgh) (Senior Associate, Competition).