Power SpA has now finalised the negotiation and structuring of a brief enterprise affiliation contract (German: ARGE for Arbeitsgemeinschaft) with Koenigskreuz, a specialist firm primarily based in Austria working in photovoltaic applied sciences.
Power SpA is energetic within the supply of built-in electrical energy storage methods on Euronext Development Milan. The worth of this provide of storage system and companies is EUR 25.7 million.
Rechtsanwalt Dr Andreas Eustacchio, LL.M. (LSE) has supplied authorized recommendation to ARGE Power Königskreuz on their first enterprise cooperation on the Austrian Market.
“With our recommendation, we have now made a major contribution to placing the Italian-Austrian cooperation between Power and Königskreuz on a strong authorized footing for the profitable supply of battery storage methods and related companies value 25.7 million euros for ASFINAG in Austria.”
Q&A with Andreas Eustacchio
Andreas, are you able to increase on this transaction for this contract between Konigskreuz and Power SpA, what have been the shoppers’ precedence requests for this contract and have been they met?
A pivotal problem of the authorized recommendation was the well timed drafting and negotiation of the enterprise affiliation contract, which clearly defines the only duties and duties of Power S.p.A. and Königskreuz GmbH inside the framework of the three way partnership.
With our recommendation, we have now made a major contribution to placing the Italian-Austrian cooperation between Power and Königskreuz on a strong authorized footing for the profitable supply of battery storage methods and related companies value 25.7 million euros for ASFINAG. For ASFINAG this entails attaining three targets: full power autonomy by 2030, power resilience to guard information (a particularly topical challenge), and motorway quick charging supported by power from renewable sources.
How does this contract profit your consumer and what negotiations have been essential to ensure Power SpA of Italy and Königskreuz of Austria have been happy with the result?
The three way partnership with Power SpA because the main half has received an necessary tender from ASFINAG Autobahn Service GmbH, a motorway concessionaire in Austria, and prevailed towards different industrial entities. The profitable collaboration will now allow the manufacturing and supply of the battery storage methods and related companies value 25.7 million euros for ASFINAG over the subsequent 18 months.
It’s notably noteworthy that the power storage methods are produced by Power S.p.A. in Italy and due to this fact come from European manufacturing.
Are you able to inform us about your crew for this challenge, what abilities have been required to convey to the desk for this and why did your crew at Eustacchio Attorneys at Regulation of Vienna make for essentially the most appropriate selection?
Foremost it was essential to have an in-depth information of the Italian and Austrian markets in addition to expertise with industrial corporations and the power sector. I’ve been advising Italian shoppers in Austria and vice versa for greater than 20 years now. With my experience within the Austrian and Italian markets and figuring out in regards to the power of the Italian trade I used to be in a position to set the authorized course for achievement in Austria along with Studio Legale Macchion & Resoli on the Italian facet.
The settlement had to make sure that all authorized and technical provisions of the Austrian power sector have been complied with. To this finish, it was first additionally essential to make clear which authorized necessities needed to be met for the Austrian market.
Throughout this challenge have been there any challenges or adjustments that arose and the way did these get addressed by you and your crew, how do you keep open for brand new negotiations?
Business and authorized success is about understanding the consumer and the tradition of their nation. As I acted as authorized advisor for each the Italian Power S.p.A. and the Austrian Königskreuz GmbH, my function was additionally to behave as a mediator to resolve any variations that arose throughout the contract negotiations, each from a authorized standpoint and in relation to numerous enterprise and technical features. This was additionally performed beneath time stress and strict time constraints as a result of tender.
Andreas, with a wealth of expertise throughout varied industries, what was your technique for this particular consumer and the way does your expertise information you thru present and future tasks, do you’ve gotten a private technique mastered?
The important thing to success was ‘belief’ in me as an individual and my crew in addition to in my work as a authorized advisor. It was thus essential that the dialogue between the 2 events didn’t break down, even throughout the interval by which contractual sticking factors needed to be overcome. It was due to this fact necessary for us to repeatedly talk about with the 2 companions legally smart and economically viable factors and to instantly submit proposals so to make sure that the collaboration between the 2 companions can be a profitable one sooner or later.
If solely one of many two companions had not trusted me 100% throughout these phases, we might not have been in a position to obtain this success.
Would you inform us in regards to the worth of the storage methods and the advantage of having additional provide choices of round EUR3 million?
The tender is the first of its form received by Power S.p.A., as a companion of the ARGE Power S.p.A. Königskreuz GmbH and is worldwide recognition of Power S.p.A.’s technique, which confirms its main place within the renewable power sector. The Firm is on the forefront of the transition to a sustainable power future, always investing in analysis to develop more and more environment friendly and sustainable merchandise, thus confirming its affect within the European power storage market.
What’s subsequent for by EUSTACCHIO authorized advisory of Vienna, what plans are there for progress or upcoming tasks to be careful for?
We are going to now proceed offering authorized help on the three way partnership on the person implementation steps essential in Austria and to fulfill ASFINAG in response to the tender settlement with the ARGE.
Crucial objective for us should proceed to be to place our clients and their wants on the centre. Solely joint success strengthens each.