Sale of the largest solar rooftop portfolio in Belgium
On 8 February 2019, Sunrock, a Dutch based development company has closed the controlled auction sale of its 98 rooftop PV-installations of 37,2 MW located in Flanders, Brussels and the Walloon Region to institutional investor Patronale Solar, part of the Patronale Life group.
Largest solar rooftop portfolio in Belgium
The portfolio was the largest solar rooftop portfolio brought to the market and is part of an end game in the Belgian secondary solar market which is consolidating around a few players.
Legal advisor to Sunrock
The Loyens & Loeff deal team, headed by partner Koen Panis, advised Sunrock on all aspects of the transaction, including a vendor due diligence on all 98 sites. Filip Jorens, Bram Devlies, Mathias Diricx and Véronique Van Eessel were instrumental to its success.
Koen Panis, Banking & Finance partner: "This transaction had it all. A substantial size of assets, a high speed process and a combination of regulatory and transactional expertise, but most of all: a warm reunion between good clients on both sides of the table."
Other advisors involved were Advocom (counsel to Patronale Solar), Forsite (financial advisor to Sunrock) and Peregrine (financial advisor to Patronale Solar).
Koen Panis
Partner Attorney at lawKoen Panis is a partner in our Brussels office where he is a member of the Banking & Finance Practice Group, the Energy Team and the Real Estate Team. He specialises in international and local finance transactions.
T: +32 2 773 23 90 M: +32 497 53 38 36 E: koen.panis@loyensloeff.com
Filip Jorens
Senior associate Attorney at LawFilip Jorens, attorney at law, is a senior associate in the Corporate and M&A Practice Group in Belgium. He is also a member of the Start-up Team.
T: +32 2 773 23 66 M: +32 4 74 28 38 04 E: filip.jorens@loyensloeff.com
Bram Devlies
Associate Attorney at LawBram Devlies is a member of the Loyens & Loeff Energy & Utilities and Competition & Regulatory Teams in Belgium. He is an associate in our Brussels office.
T: +32 2 743 43 59 M: +32 4 70 54 09 70 E: bram.devlies@loyensloeff.com
Mathias Diricx
Associate Attorney at LawMathias Diricx is a member of the Banking & Finance Practice Group of Loyens & Loeff in Belgium and an associate in our Brussels office.
T: +32 2 773 23 14 M: +32 4 84 27 72 20 E: mathias.diricx@loyensloeff.com
