Noerr advises Foresight on participation in HH2E and majority investments in 5 hydrogen projects

A Noerr team led by Tibor Fedke, Marc Philip Priesmeyer and Daniel Fuchs advised Foresight Group LLP on its participation in HH2E AG. Together with Foresight and co-investor HydrogenOne Capital Growth plc, HH2E will develop green hydrogen infrastructure projects to produce green hydrogen, oxygen, steam/heat and electricity to industrial offtakers close to the industries that need it, thus making them independent of natural gas.

Foresight and HydrogenOne also invest directly in HH2E’s projects. To this end, both investors have signed a framework agreement for direct co-investment in HH2E’s projects with a value of over €500 million in aggregate. Foresight, as the lead investor in such projects, will acquire majority stakes.

HH2E is a new Hamburg-based German green energy company. Its technology mix can convert a variable input of solar or wind energy into a constant flow of competitively priced green hydrogen, heat and carbon-free electricity to power local industries and communities, reducing the country’s dependence on imports. With its €2.7 billion investment plan, which envisages a production capacity of several GW, HH2E is positioned to become one of the largest producers of green hydrogen in Germany.

Founded in 1984, Foresight Group is a leading London Stock Exchange-listed infrastructure and private equity investment management company. With a longstanding focus on ESG and sustainability-oriented strategies, the company aims to provide its institutional and private investors with attractive returns in hard-to-reach private markets. Foresight operates from 12 offices in seven countries across Europe and Australia and had £8.7 billion of assets under management as at 31 March 2022.

The Noerr team led by Tibor Fedke specialises in energy and infrastructure projects. The team has recently advised AMPYR Solar Europe (“ASE”) on a strategic cooperation agreement with Commerz Real fund KlimaVest for the development, construction and commissioning of large-scale photovoltaic projects in Germany, terminal operator Liwathon on the acquisition of Shell’s stake in PCK Refinery and a fund owned by the insurance group ALH (Alte Leipziger/Hallesche) on an investment in the Veja Mate offshore wind farm.

Advisors to Foresight: Noerr Partnerschaftsgesellschaft mbB

Team lead
Tibor Fedke, (partner), Marc Philip Priesmeyer (senior associate), Daniel Fuchs (associate, all Corporate/Mergers & Acquisitions, Berlin)

Corporate/M&A
Dorothee Prosteder (partner, Munich)
Annika-Kristin Stamer, Lilli Frederike Sachse (both associates, Berlin)

Finance
Alexander Schilling (partner, Frankfurt)

Employment & Pensions
Yvonne Dietzel (associated partner, Dresden)

Energy
Martin Geipel (partner, Berlin)

Financial Services Regulation
Kai-Michael Hingst (partner), Arndt Alexander Schmidt (senior associate, Hamburg)

Construction Contracts
Volker Bock (partner, Dresden)

Antitrust & Competition
Peter Stauber (partner, Berlin)

Foreign Trade
Bärbel Sachs (partner, Berlin)

Advisors to HH2E AG: Raue Partnerschaft von Rechtsanwälten und Rechtsanwältinnen mbB

Advisors to HydrogenOne: Gowling WLG