Strong alliance for renewable energy: Luther advises Sunrock joint venture on €55 million project financing

By securing financing through an existing joint venture with a project developer, Sunrock is consistently pursuing its growth strategy in the field of renewable energy for logistics and industrial properties. The funds provided by KBC will enable the joint venture to realise an extensive portfolio of rooftop photovoltaic systems. The projects combine feed-in tariff models and local power purchase agreements to supply tenants at the respective sites with sustainably generated electricity. Through the project financing, Sunrock, together with its strategic partner, is making a significant contribution to the implementation of the projects, underlining the central importance of infrastructure investments for the sustainable transformation of the energy sector.

Luther has repeatedly provided Sunrock with legal and tax advice on the joint venture, as well as on the structuring and negotiation of the complex financing documentation, under the leadership of finance lawyers Christoph Schauenburg and Volkan Top. Philipp Dietz and Dr Zacharias-Alexis Schneider were responsible for corporate and tax law matters. Energy law issues were handled by Dr Angelo Vallone and Benedikt Rechner.

Sophia Truong, Lead Counsel at Sunrock Germany, emphasises: “The renewed, trust-based collaboration and the professional, solution-oriented support provided by the Luther team led by Volkan Top and Christoph Schauenburg were of great value to the successful completion of the transaction.”

About Sunrock:

Sunrock, founded in 2012, is a leading European developer of large-scale solar roofs and integrated clean energy solutions. The company enables owners and users of logistics properties, as well as industrial companies, to achieve their ESG goals and operate with net-zero emissions.

With bespoke solutions, Sunrock supplies logistics and industrial buildings with clean energy, focusing on local energy supply via solar roof systems. This is optimised through intelligent energy management systems (EMS), a multimodal trading platform and integrated energy systems such as battery storage and charging infrastructure for electric fleets. From design and financing through to construction and operation, the company takes care of every step to ensure maximum energy efficiency.

In 2020, COFRA Holding acquired Sunrock as part of its commitment to contributing to a more liveable planet and a fairer society through its business activities.

Operating in Germany, France and the Netherlands, Sunrock employs more than 160 staff and is currently delivering projects with a total capacity of over 1 GWp. As a certified B Corp, the company is committed to regularly improving its social and environmental impact.

Together with its clients, the company aims to pave the way towards a clean energy future. Further information can be found at www.sunrockenergy.de

For Sunrock:

Luther, Capital Markets, Banking & Finance: Christoph Schauenburg, LL.M. (Partner), Volkan Top (Senior Associate)

Luther, Corporate/M&A: Philipp Dietz, LL.M. (Partner), Leon C. Schmitter, LL.M. (Senior Associate)

Luther, Energy Law: Dr Angelo Vallone (Partner), Benedikt Rechner (Counsel)

Luther, Tax Law: Dr Zacharias-Alexis Schneider, LL.B., LL.M. (Partner)