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Energy and Corporate teams advise Capton Energy on a landmark joint venture agreement with Enerwhere
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Gowling WLG's UAE Energy and Corporate teams have advised Capton Energy, in respect of its investment into off-grid commercial and industrial (C&I) solar power and storage projects being developed by Enerwhere, a global leader providing innovative and sustainable power solutions to the commercial and industrial solar power market. The agreement will implement 25MW of renewable power projects, with the immediate deployment of 9MW in off-grid solar projects in addition to a battery energy storage facility. The joint venture is poised to execute a larger pipeline of power projects supporting C&I offtakers across the Middle East and Africa through to 2026.
Capton Energy is a joint venture between Siemens Financial Services and Desert Technologies that was established as an investment and development platform to support the energy transition by mobilizing capital towards identified funding gaps in critical market segments, particularly in emerging markets. Capton Energy has a primary focus on energy transition infrastructure, including renewable energy generation, energy storage, EV infrastructure and energy efficiency.
Capton Energy’s strategic partnership with Enerwhere represents a transformative shift in the energy transition landscape, blending Capton Energy's investment skills and creative application of project finance techniques, with Enerwhere's strong technical expertise in innovative renewable and hybrid energy solutions and its commitment to driving the energy transition forward.
The Gowling WLG team, led by Jonathan Brufal (Projects) and Simon Elliott (Corporate) and supported by Bethany Bloor and Bella Chandler, was engaged as legal advisor to Capton Energy in relation to the projects. The cross-practice team's involvement in these projects demonstrates their knowledge, expertise and capabilities in the renewable energy landscape, which is a core focus of Gowling WLG, particularly in the MENA region where there is an increasing focus on energy transition.
Jonathan Brufal, head of Projects and co-head of the Energy Transition sector, said: "We are proud to have advised Capton Energy through this transaction. The project demonstrates our experience in the C&I space in the Middle East and Africa and is one of a number of projects on which we are advising, supporting the region's energy transition. It also highlights the growing strength of our corporate energy team, led by Simon Elliott."
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