Ashurst has advised the Italian company ERG Renew SpA on the drafting of arrangements and negotiation of terms of its joint venture with Lukoil, Russia’s largest oil company. The joint venture between ERG Renew and Lukoil will see the two parties pursuing the development of renewable energy projects in Eastern Europe and Russia.

ERG Renew (ERG Group) is active in the generation of electricity from renewable sources, above all in the wind sector. In Italy, ERG Renew currently has 8 wind farms in operation with a total installed capacity of 246 MW, whilst in France, it owns 6 wind farms with a total installed capacity of 64.4 MW. 

The Ashurst team was led by energy and infrastructure partners Jan Sanders and Cameron Smith, assisted by associate Julia Derrick. 

Commenting on the deal, Cameron Smith said: 

“We are delighted to have had the opportunity to work with ERG Renew on such an exciting joint venture in the renewable energy sector. We look forward to continuing to support ERG Renew with its renewable energy business in the future.” 

Jan Sanders commented further: 

“Based on the very productive way in which ERG Renew and the advisers worked together on this project, we hope to see some ground breaking projects coming out if this relationship.”