Taylor Wessing advises FRV-X on investment in ecoligo

Taylor Wessing has advised FRV-X, the venture division of Fotowatio Renewable Ventures (FRV), on a 10-Million-euro-investment in the berlin based solar-as-a-service provider ecoligo. With this investment, FRV is expanding its portfolio to include the commercial and industrial customer segment through ecoligo’s work. “We are very happy with the contribution of Taylor Wessing as a team and we specifically want to emphasize Felipe Villena’s great contribution to the deal”, says Deniz Saidov, Head of Legal at FRV-X.

Since 2016, ecoligo has been implementing energy-as-a-service projects financed by retail investors who are interested in both impact and return on investment using a digital platform initiated by ecoligo. The solar plants supply companies relying on fossil energy sources with more affordable and sustainable, clean electricity produced in-house. To date, ecoligo has implemented 169 projects with a total output of 82.4 MWp – more than all the PV plants in Hamburg. The projects are implemented in emerging markets on three continents so far, where energy demand is quickly rising compared to major industrialized nations. The success of the global energy transition will be determined by whether emerging nations are considered. However, there is a funding gap for solar projects in these countries making access to financing from traditional sources more difficult, which is why ecoligo offers a full-service solution including planning, construction, maintenance, and financing of the plants through retail investors.

ecoligo and their community of private impact investors are actively protecting the climate, the projects signed so far are going to measurably contribute to CO₂ savings of more than 1 million tonnes. FRV develops and operates renewable energy projects worldwide and seeks to continue leading the global transition to a more sustainable energy future. It has evolved from being a developer to becoming an independent power producer (IPP), aiming to be the world’s leading green energy infrastructure platform. So far, FRV has a pipeline of more than 10 GW around 5 continents, including PV Plants, Wind, BESS, Hybrid and Green Hydrogen, and every year helps to avoid more than 1 million tonnes of CO₂ being released into the atmosphere.

Legal advisor FRV-X

Taylor Wessing Germany: Carsten Bartholl (Partner) and Felipe Villena (Senior Associate, Frankfurt am Main); Dr Angela Menges (Salary Partner, Hamburg) (all Corporate/M&A)

Legal Inhouse FRV: Deniz Saidov