Baker McKenzie acted as lead counsel to Amara NZero, an energy transition company dedicated to advancing sustainable energy solutions, in the acquisition of Sunrgy Solar Distribution, a leading provider of solar energy solutions based in Texas that offers a wide range of high-quality solar products and services to residential, commercial, and industrial clients.
With a focus on solar, wind, and other renewable energy technologies, Amara NZero designs, develops, and operates energy projects that contribute to a more environmentally friendly and energy-efficient world. This transaction strengthens the position of Amara NZero in the US market and will allow Sunrgy to continue delivering high-quality solar products and innovative energy solutions to residential, commercial, and utility-scale clients at a larger scale.
Amara NZero's M&A team is led by Carlos Lledó Palomo, who commented, "Baker McKenzie's M&A and Energy teams delivered services which proved remarkable expertise in their respective fields."
Further, Amara NZero's legal team led by its General Counsel, María De La Nuez Rodríguez-Batllori, commented, "Baker McKenzie's team provided us the needed expertise and guidance, the team is truly fantastic, with incredible strength throughout, which aligns with our mission to accelerate transition to a greener and more sustainable future."
“The deal represents a significant step toward expanding the reach of environmentally friendly technologies” said Jose Moran, Chair of Baker McKenzie's US Energy, Mining & Infrastructure Industry Group. “But more significantly, it showcases the favorable conditions for investments set forth in the Inflation Reduction Act and the newly created clean electricity production tax credit (“CEPTC”) and clean electricity investment tax credit (“CEITC”) which further enhance the ITCs and PTCs for assets that generate electricity without any greenhouse gas emissions alongside a newly established manufacturing tax credit for eligible equipment, such as US-manufactured PV cells, solar modules and battery cells.”
Led by Jose Moran, Maxim Tsotsorin, Carlos Suarez and Cecilia Maspero, the Baker McKenzie team included Alexander Fields, Lane Morgan, Thomas Asmar, Elizabeth Ebersole, Amanda Cohen, Victor Flores, Cynthia Cole, Jessica Wicha, Sarah Swain, Danielle Gibbons and Alex Crowley.
Baker McKenzie is at the forefront of market-leading deals in the renewable energy and clean technology sector. Our multidisciplinary global team helps energy producers, investors and users forge their energy transition journey in an increasingly complex regulatory environment, enabling them to transform, powerfully.
The transition to a carbon-neutral economy is a seismic shift on a global scale, leaving no sector untouched. The urgent strategic, operational and reputational challenges are considerable, but so are the opportunities for growth.
Learn more about this transaction in the parties' press release here.