Orrick Advises MEAG Munich Ergo on Financing of Metaenergia Gas Power Plants

July.05.2021

We assisted MEAG Munich Ergo, the asset management company of the Munich Re Group, as the subscriber of alternative debt instruments issued by Metaenergia for an overall value of €300 million in the context of the project financing for the construction of nine gas power plants developed by Metaenergia for the Italian peak capacity market.

The Orrick team was led by Carlo Montella, global Deputy Business Unit Leader of the Energy & Infrastructure practice. Daria Buonfiglio, senior associate, supported by Laura Galbiati, managing associate and Paola Alberta Esposito, associate, managed all matters relevant to the financiability of the construction contracts, by reviewing such contracts and drafting them on behalf of the bond holders. The entire due diligence activity related to the analysis of the administrative and regulatory aspects as well as the Golden Power compliance was led by Francesca Isgrò, partner, supported by Edoardo Mencacci, associate. Raul Ricozzi, partner, Assia Andriani, associate and Federico Perego, senior associate, assisted MEAG in the legal structuring of the debt and drafted the project bond.