NEWS

Wind Turbine Blades

WFW advises PNE WIND AG on the sale of two wind farms to the CHORUS Group

7 August 2014

EN | DE

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised PNE WIND AG (“PNE”) on the sale of two onshore wind farms in Germany to a Luxemburg special fund administered by the CHORUS Group on all relevant legal and tax matters.

The “Sontra” wind farm located in Hesse and the “Kemberg III” wind farm located in Saxony-Anhalt are equipped with a total of nine Nordex N117 wind energy turbines, possessing a combined capacity of 21.6 MW. The modern wind energy turbines are very efficient in inland locations, benefiting from hub heights of more than 140 metres, which allow for optimal harnessing of the wind at both locations. The new wind energy turbines can produce environmentally friendly electricity which is equivalent to the annual consumption of approximately 18,000 four person households.

Both PNE-developed wind farms are currently under construction and will be completed and commissioned in the second half of 2014. PNE will also be responsible for technical operations management.

Cuxhaven-based PNE plans and develops onshore and offshore wind farm projects and to date has successfully developed wind farms with a combined capacity of more than 2,000 MW. The CHORUS Group has been investing in renewable energy projects since 2006, developing more than 100 solar and wind energy plants in five European countries to date.

The WFW Hamburg team advised PNE on all legal and tax aspects of the deal, and was led by partner Dr. Malte Jordan (Corporate/Energy). He was supported by partner Gerrit Bartsch (Tax) as well as associates Dr. Manuel J. Rolfes, Dr. Malte Koch (both Corporate/Energy) and Dr. Wichard von Hoff (Banking & Finance).

The lead partner Dr. Malte Jordan, says:“We are delighted to have advised PNE on their first sale of a wind farm to the CHORUS Group. The close relationship and cooperation between the PNE and WFW transaction teams allowed the deal to be closed efficiently in an exceptionally short timeframe.”