Noerr advises Foresight on an acquisition of another billion-euro green hydrogen project

A Noerr team led by Tibor Fedke and Daniel Fuchs has advised the infrastructure fund Foresight on investing in a project company to develop in Lubmin one of Europe’s largest green hydrogen production plants to date. The total planned investment is over one billion euros.

Foresight is taking over a large part of the existing shareholding of HH2E AG and all shares of the Swiss MET Group, which set up the project company with HH2E AG in mid-2022. The Power-to-X plant will be built in Lubmin, Mecklenburg-Western Pomerania, and is intended to have output of over 1 GW in the second expansion phase.

The project allows Foresight to continue its investment activity in green hydrogen production plants in Germany. The infrastructure fund has been involved in a hydrogen consortium since 2022 alongside HH2E AG and Hydrogen One. The partners entered into a master agreement to develop, build and finance a total of five green hydrogen plants over the next few years; in early 2023, they launched an initial project to build a hydrogen power plant in Thierbach. This project in Thierbach, also involving a total investment of one billion euros, is likewise intended to have output of over 1 GW in the second expansion phase. The other four planned projects of the cooperation are expected to be of similar magnitude. Noerr teams led by Tibor Fedke previously provided legal support to Foresight on the underlying development partnership agreement and the Thierbach project.

Foresight was founded in 1984 and is a leading listed infrastructure and private equity investment manager. Foresight operates in seven European countries and Australia. As of 31 December 2022 it had £12.3bn in assets under management.

Advisors to Foresight Group LLP: Noerr

Team lead: Tibor Fedke (partner, Corporate/M&A, Berlin)

Corporate/M&A: Carmen Böhn (associated partner, Frankfurt), Daniel Fuchs (senior associate), Lilli Frederike Sachse (associate), Anna Danelia-Aretz (associate, all in Berlin)

Commercial: Mansur Pour Rafsendjani (partner, Munich), Lukas Schu (associate, Frankfurt)

Energy: Martin Geipel (partner, Berlin), Ines Coenen (senior associate, Munich), Patrick Jäger (senior associate), Michele Gauttier (associate), Elena Marks (associate), Filiz Wölfle (associate, all in Berlin)

IP: Sebastian Wündisch (partner, Dresden)

Antitrust: Peter Stauber (partner, Berlin)

Litigation: Ben Kempe (partner, Berlin)

Real Estate: Gregor Barbers (partner, Dusseldorf), Volker Bock (partner), Markus Zeibig (counsel, both in Dresden), Raphaël Hebecker (senior associate, London), Fabienne Wendik (associate, Dusseldorf)

Regulatory: Christian Alexander Mayer (partner, Munich), Hendrik Schlutt (counsel, Berlin), Arndt Alexander Schmidt (senior associate, Hamburg)