GvW Graf von Westphalen advises technology company McPhy Energy on entry into China business
The Brandenburg-based enterprise McPhy Energy Deutschland is building a wind-hydrogen hybrid power station in the Chinese province Hebei. The company has now entered into a respective agreement with representatives of the state-owned Hebei Construction and Investment Group Co. in the presence of the prime minister of the federal state of Brandenburg, Dr. Dietmar Woidke, and the party secretary of the province Hebei. GvW Graf von Westphalen has attended and legally advised McPhy Energy Deutschland on the negotiation of the EUR 6.4 million agreement in China with the state-owned enterprises involved.
Based on the German model, the new power station in the province Hebei/Northern China is supposed to produce hydrogen from excess wind energy which is then used in industry, mobility or as energy storage for re-conversion into electricity when there is a lack of wind. The plant with a capacity of 4 MW is supposed to start operations in 2017.
McPhy Energy is a specialist for the integration of renewable energy on the basis of hydrogen as secondary energy source (power to gas). The stock-listed McPhy group with its headquarters in France was founded in January 2008 and has production sites in France, Germany and Italy.
GvW advised the technology company on establishing its business in China with Dr Oliver Maaz (M&A/China) in the lead, supported by a Chinese team from the Shanghai office consisting of Ms. Jiaye Wang, Ms. Zhenjun Wang and Mr. Feiyu Chen.
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