Marcello Montresor

Counsel
Project Development and M&A

Marcello has a consolidated expertise on M&A, private equity and project development as well as joint venture transactions in the energy and infrastructure industries, mainly focusing on renewables. He assists sponsors, developers, private equity investors, infrastructure funds and other investors in all stages of structuring, acquiring and disposing of energy projects and companies, including in the acquisition or sale of totality, majority or minority shareholdings and in greenfield project development as well as construction/management related matters.
Marcello also has a significant experience in PPAs transactions, having assisted mainly energy producers in the sale of energy and related certificates to corporate, utilities and traders, through both virtual and physical PPA structures.

Marcello assists clients in drafting and negotiating all transaction documents, including SPAs, joint venture agreements, framework agreements, development/co-development agreements, shareholders’ agreements and PPAs.
Marcello also counsels clients on general corporate matters and day-to-day operating matters, including contracts management and other related legal matters.
In 2016, Marcello spent a four-month period in Orrick’s London office, advising as a secondee and in conjunction with the London E&I team a global leading solar company in acquisitions of ready-for-construction solar PV plants in the United Kingdom.

Notable Experience

 

Representative transactions Marcello has recently advised include assistance to:

 

NiceTechnology and 7 Seas Wind Power, in the sale to GreenIT, the Italian renewable energy joint venture between Plenitude (Eni) and CDP Equity (CDP Group), and Copenhagen Infrastructure Partners (CIP) through its Flagship Funds, of 3 offshore wind projects in Latium and Sardinia, with an overall capacity of approximately 2 GW.

 

Ringo JV S.r.l., belonging to European Energy group, in the progressive acquisition of the entire corporate capital of Sun Project S.r.l., which owns a 250 MW solar project under authorisation.

 

Gardant SGR S.p.A., in the purchase and subscription of real estate fund quotas with underlying PV assets owned by Canadian Solar group both in operation and NTP.

 

Matrix Renewables, in the negotiation and signing of a 10-year virtual/financial power purchase agreement relating to a 44 MW solar portfolio in Italy owned by Matrix Renewables.

 

European Energy, in the vendor due diligence and drafting and negotiating of an Investment Agreement regulating the subscription by Iren Energia of a capital increase for 51% of two SPVs owning 2 PV projects RTB having an aggregate capacity of 44 MWp.

 

Azimut Libera Impresa SGR S.p.A., in the due diligence and drafting/negotiating of an Investment Agreement regulating the set-up of the start-up Fastway and the subsequent investments up to 50 million aimed at constructing, installing, and managing stations for fast electrical recharge of electric and hybrid vehicles in Italy as well as the related contractual documentation (including agreement with founders/key persons).

 

European Energy, in:

  • the acquisition of a 20MW wind project in Italy and in the negotiation and drafting of the sale and purchase agreement, the turbines supply agreement, the balance of plant agreement, and the construction management agreement;
  • the acquisition of a ready-to-build 123 MW PV project in Italy, the largest one in Italy at that time;
  • the sale to IREN S.p.A. of such 123 MW PV project, once entered into operation, as well as other around 20 MW of ready-to-build PV projects;
  • the acquisition of a number of PV projects in Italy for an aggregate capacity in excess of 400 MW.

 

CVA – Compagnia Valdostana delle Acque S.p.A., in the acquisition of 100% of SR Investimenti, a company owning a portfolio of PV plants and projects in various Italian regions, totalling approximately 42 MW of installed capacity and 1,190 MW of pipeline.

 

KGAL, on:

  • the drafting and negotiation of the entire set of project contracts for a 53 MW unsubsidized solar plant in Italy, including the long-term PPA, the EPCM contract, the modules supply agreement, the trackers supply agreement, the inverters supply agreement, the infrastructure EPC contract as well as the grid connection agreement;
  • the acquisition from STEAG of a 440 MW solar projects pipeline, including due diligence activities and drafting and negotiation of all contractual documentation and the subsequent 160 MW add-ons.

 

Greencells Group, in the co-development of a pipeline of agrivoltaic projects under development by a leading Italian developer, with a total expected capacity of up to 790 MWp, located in Sardinia.

 

iCON Infrastructure, on:

  • the acquisition from ATS Engineering S.r.l. and VMV Holding S.r.l. of a 51% stake in NVA S.r.l., a platform for the development, construction, and operation of renewable energy plants with a pipeline of projects under development of approximately 3 GW, with the strategic objective of transforming it into a multi-technology IPP focused mainly on solar, onshore wind and biogas utility scale plants;
  • the acquisition of 100% of Sestrieres SpA, a company managing one of the most important European ski infrastructures;
  • the acquisition of a 49% stake in the public lighting activities of the EGEA group;
  • the acquisition from EGEA S.p.A. of a 49% stake into two holding companies owning gas distribution and district heating businesses in Northern Italy, and in the negotiation of the related shareholders agreements;
  • the acquisition of a majority interest in Eco Eridania S.p.A., an Italian integrated waste collection, transportation, treatment and disposal business leader in the sanitary and industrial waste sector, from Xenon Private Equity V L.P., and from CEO Andrea Giustini’s family holding company Roccaforte S.r.l.

 

ACEA in the sale of a majority stake in the holding owning a 105MW operational solar portfolio.

 

Glennmont Partners, on the €416 million acquisition of a 245 MW wind projects portfolio from Spanish electric utility project in Italy.

 

Tages Capital, in the acquisition of a portfolio of operating solar plants having an aggregate capacity of around 9.5 MW in Apulia and Lazio owned by Solar 21.

 

Bluefield, in the acquisition of a portfolio of operating solar plants having an aggregate capacity of around 10 MW in Italy.

 

Quercus, in the acquisition of a 60 MWp operating wind project in Basilicata Region from European Energy.

 

A JV between Canadian Solar and Manni Energy in the formation (including related shareholders agreements) of a JV vehicle which will invest in and construct greenfield PV projects in Italy, as well as in the negotiation of (the first in the Italian market) long term power purchase agreement executed between such JV and Trailstone.

 

VEI Green (controlled by VEI Capital) and Foresight Group, in the formation of a joint venture with NWS Holdings Limited investing in renewable energy assets in Italy.

 

VEI Green, in the sale to ERG of a 90MW portfolio of operational PV assets in Italy with an enterprise value in excess of 330 million euro.

 

F2i, in the acquisition from Ardian of a 51.5 MW portfolio of operational PV assets in Italy.

 

Equinox Energy Capital in the acquisition of various solar projects in the UK for a total capacity of around 85 MW, and in the negotiation of the relevant EPC contracts, O&M contracts, and related subcontracts.

 

Canadian Solar, in the drafting and negotiation of the transaction documents for the acquisition and the construction of 12 MW solar projects in Namibia.

Education

Università degli Studi di Milano

 

BAR ADMISSION

Milan

Tel: +39 347 2282012

 

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