Hamburg – CMS has advised Tree Energy Solutions (TES) on its joint venture with Fortescue Future Industries (FFI) to develop the Wilhelmshaven energy import terminal. TES has found a new partner in FFI for the development of the energy import part of its intended Green Energy Hub. FFI has invested EUR 100 million to acquire a 30 per cent stake in the German joint venture company (Deutsche Grüngas und Energieversorgung GmbH) that is developing the terminal.
The Wilhelmshaven terminal is to be the centrepiece of a planned integrated Green Energy Hub on the German North Sea coast that will be used to import synthetic methane (as a gH2 carrier) in the long term, and initially import LNG (liquified natural gas) to meet Europe's energy crisis. The terminal will support TES' green energy park development that includes methane re-conversion to gH2, closed-loop CO2 capture (to re-export to green energy source), electrolyser project and other developments.
TES is a global green hydrogen company supplying long term non-intermittent carbon-neutral energy on-demand at industrial scale. TES aims to accelerate the energy transition by unlocking the potential of existing global energy infrastructure to reach customers with green hydrogen, green gas and green power while accelerating the phase-out of fossil fuels from the energy system worldwide and adopting a circular carbon economy.
FFI is a global green energy company committed to producing green hydrogen, containing zero carbon, from 100 per cent renewable sources. FFI is developing technology solutions for hard-to-decarbonize industries, while building a global portfolio of renewable energy, green hydrogen and green ammonia projects. FFI is also active in decarbonizing hard-to-abate sectors and is responsible for the proposed decarbonization of one of the biggest resources companies in the world by 2030 – its parent company Fortescue Metals Group.
A CMS team headed by lead partner Dr Holger Kraft advised TES on all legal aspects of the transaction and setting up the joint venture.
CMS Germany
Dr Holger Kraft, Lead Partner
Dr Hilke Herchen, Partner
Marvin Hoffmann, Senior Associate
Dr Stefan Kühl, Associate
Dr Carl-Friedrich Thoma, Associate, all Corporate/M&A
Dr Sebastian Orthmann, Partner
Dr Hans Fabian Kiderlen, Principal Counsel
Christopher Schmeckel, Senior Associate
Cihan Cömert, Senior Associate, all Real Estate
Dr Fritz von Hammerstein, Partner, Public
Christoff Henrik Soltau, Partner
Kai Neuhaus, Partner
Moritz Pottek, Senior Associate
Dr Denis Schlimpert, Senior Associate, all Antitrust, Competition & Trade
Dr Martin Mohr, Partner
Dr Olaf Thießen, Principal Counsel, both Tax
Press Contact
presse@cms-hs.com
