NEWS

Wind Turbine Blades

WFW advises Conetwork on its acquisition of a wind farm project from Windwärts Energie

19 April 2012

EN | DE

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised Conetwork Erneuerbare Energien Holding GmbH & Co. KGaA (“CEE”) on the legal and tax aspects of its acquisition of the Klein Lobke wind farm in Lower Saxony, Germany. It was acquired from Windwärts Energie GmbH (Windwärts), and is the third transaction between CEE and Windwärts which Watson, Farley & Williams has advised on.

Installed and commissioned in 2009, Klein Lobke has a total capacity of 9.2 MW, comprising four Enercon E70 wind turbines and will produce approximately 15 million kWh of “green” electricity every year, enough to cover the annual consumption of about 5,000 households.

Windwärts will remain responsible for the technical management of the wind farm, while CEE Operations GmbH will manage its operation as it does with CEE’s growing portfolio of power plants.

Specialising in renewable energy, Hamburg-based CEE is an investment company with a managed equity capital of approximately 250 million euros. Investments are made through equity and mezzanine financings in energy generation projects, primarily in the areas of wind energy, photovoltaics, biogas, biomass cogeneration plants and near-surface geothermal energy, and into corresponding participations in cleantech companies focusing on renewable energy.

Windwärts Energie GmbH has international operations in the renewable energy sector. Since its formation in 1994, Windwärts has commissioned projects with a total investment volume of 400 million euros. Its core business is the development, financing and operation of wind energy and photovoltaic projects as well as the acquisition of projects in different stages of planning.

The Watson, Farley & Williams team was led by Dr. Marcus Bechtel (Corporate), assisted by Verena Scheibe (Tax), and included associates Cathrin Krüger and Alexander Schroer (both Corporate).

Commenting on the deal, Marcus Bechtel said: “We are delighted to have advised CEE in another transaction with its partner Windwärts Energie. In the course of this ongoing cooperation between CEE and Windwärts Energie we have been able to assist by implementing a deal structure which is suitable for more than just one transaction.”