5 December 2012
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 the acquisition of a solar park in Eggersdorf, Brandenburg, Germany. The acquisition was effected through the purchase of all shares in the operating company from juwi Holding AG, Wörrstadt, Germany. The commissioning of the newly built solar park was completed in September 2012 in accordance with the recently amended German Renewable Energies Act (EEG). The connection to the E.ON grid of E.ON is planned in the near future. The plant has a total capacity of 20 MWp, which will generate 19.9 million kilowatt hours of clean energy annually. This is equivalent to the annual electricity consumption of 4,900 households. Juwi will be responsible for the technical management, and CEE Operations, a subsidiary of CEE, will be responsible for the commercial management of the ground mounted solar park. CEE is a Hamburg-based holding company specialising in renewable energy with a managed equity of EUR 300 million. CEE acquires and holds interests in renewable energy companies, particularly in wind energy, photovoltaic, biogas, biomass, and geothermal energy companies. It also invests in related technology companies. The Hamburg WFW team was led by partner Dr. Marcus Bechtel (Corporate) and Verena Scheibe (Tax). They were supported by partners Thomas Hollenhorst (Project and Structured Finance) as well as senior associates, Dr. Christine Bader, Stefan Hoffmann, Dr. Ahmad Khonsari (all Corporate) and Dr. Wichard von Hoff (Project and Structured Finance) as well as associates Carolin Woggon (Corporate) and Timo Kopmann (Tax). WFW recently advised CEE on legal and tax aspects relating to the acquisition of the solar farm Halberstadt in Saxony-Anhalt.