Heuking advises on structuring of GESI Green Energy Storage Initiative SE

Roman Ettl-Steger, Salaried Partner based at the Munich office, and an interdisciplinary team from Heuking comprehensively advised a group of entrepreneurs and senior managers, led by family entrepreneur Martin Schoeller, on the structuring of GESI Green Energy Storage Initiative SE (GESI).

Martin Schoeller, the initiative’s founder, states that the objectives of GESI are to “accelerate the energy transition by constructing large storage capacities for green electricity, to reduce the number of new fossil gas-fired power plants, and to save up to five million tons of carbon dioxide annually.” GESI is planning ten projects with a combined capacity of up to 20 gigawatt hours over the medium term to guarantee an uninterrupted provision of environmentally friendly electricity, even in periods of minimal wind and sunshine. The Fraunhofer Institute for Solar Energy Systems estimates that the proposed total GESI capacity could annually reduce carbon dioxide emissions by as much as five million tons. Additionally, the initiatives would substantially diminish reliance on energy imports and exert a moderating influence on electricity costs.

Counsel to GESI Green Energy Storage Initiative SE
Heuking Kühn Lüer Wojtek:
Roman Ettl-Steger, LL.M. (Lead, Venture Capital)
Christian Schild, LL.M.
Felix Noack (both Capital Markets), all Munich,
Dr. Tobias Woltering (Energy), Düsseldorf,
Dr. Henrik Lay, Hamburg,
Peter M. Schäffler, Munich,
Simon Pommer, LL.M. (all Tax), Hambu