Dentons Advised Volta in $4 Million Capital Increase for Solar Projects in Sri Lanka
Dentons provided legal counsel to Volta, a renewable energy producer based in France, in its $4 million (€3.78 million) capital increase aimed at expediting the execution of its solar projects in Sri Lanka.
Volta's capital increase was backed by the recently established Norwegian Climate Investment Fund, managed by Norfund. The fund aims to combat greenhouse gas emissions by investing in renewable energy projects in developing nations that heavily rely on coal and fossil fuel consumption. Sri Lanka is among the eight countries that have been identified as priority recipients of the fund's investments.
Volta is an independent energy producer that was established in 2014. The company specialises in the development, financing, construction, and operation of renewable energy production facilities. Volta's primary focus is on international projects, particularly in the ground-mounted and rooftop photovoltaic as well as wind power markets.
With an impressive track record, the group achieves annual sales of €15 million and has successfully secured over €100 million in financing since 2021.
The funding received by Volta will facilitate the expedited construction of solar power plants in Sri Lanka. These power plants will be developed and installed on the rooftops of schools in collaboration with their local partner, Gaia Greenenergy Group.
Volta received legal counsel from a team based in Dentons' Paris office, which included Guillaume Kessler, a partner specialising in Corporate law, and Caroline Pucel, an associate also focused on Corporate matters.