The Paris office of International law firm Eversheds has advised steel producer Ascometal, the French subsidiary of the Lucchini Group, on the sale of four hydro power plants to the Swiss group BKW FMB Energy (BKW).

BKW is acquiring the Allevard hydroelectric power plant group in the French Alps near Chambéry. The Allevard power plant group comprises four hydroelectric power plants with a collective capacity of 30 Megawatts (MW) and an annual production volume of around 140 Gigawatt hours. 

Lucchini Group, held by Severstal is a major global steel producer and a European leader in high quality and specialty long products. The group consists of two business units, Lucchini Piombino in Italy and Ascometal in France.

 

The Eversheds team was led by partner Eric Knai, assisted by solicitor Olivier Guinard on the corporate aspects and partner Boris Martor, accompanied by associate Valérie de Sigoyer on public law aspects.

BKW FMB Energie was advised by CMS Bureau Francis Lefebvre. The transaction remains subject to the approval of competent authorities in France. 

Eric Knai commented:

“We are extremely pleased to have advised Ascometal on this sale. Hydroelectric power is an increasingly important source of energy, supplying over 20% of the world with electricity and we expect to see continued demand.”