CMS advises investors on formation of rostock EnergyPort cooperation joint venture

Hamburg – A 100 MW facility for producing green hydrogen is set to be built on the site of the coal-fired power station at Rostock’s seaport within the next four years. The electrolysis plant will form the centrepiece of the “HyTech Hafen Rostock” project, which has applied for funding under the IPCEI (Important Project of Common European Interest) programme. A final investment decision has yet to be made and will be taken once funding has been approved. The plant will be developed and built by rostock EnergyPort cooperation GmbH. The company was recently established in Rostock and is owned jointly by EnBW Neue Energien GmbH, RheinEnergie AG, RWE Generation SE and ROSTOCK PORT GmbH. The four partners each hold a stake of just under 25% in the new company. The aim is to construct and scale up a sustainable green production and distribution structure for hydrogen. The electricity required to do so will be obtained from renewable energy such as onshore and offshore wind farms. This will enable carbon-neutral generation of up to 6.500 metric tonnes of hydrogen in Rostock’s seaport each year, which will be fed into a supra-regional distribution network (hydrogen Start Network) and made available to local consumers. The location provides the option of expanding the facility to produce up to 1,000 MW. This would make a significant contribution to sustainable energy supply and energy security in Germany. The planned investment is in the three-digit million range and will be made with the help of subsidies.

A CMS team headed by lead partner Dr Holger Kraft advised the investors jointly on all legal aspects of setting up the joint venture and establishing rostock EnergyPort cooperation GmbH.

CMS Germany

Dr Holger Kraft, Lead Partner
Matthias Sethmann, Principal Counsel
Marvin Hoffmann, Senior Associate
Dr Luise Pelzer, Senior Associate
Dr Stefan Kühl, Associate, all Hamburg, all Corporate/M&A,
Christoff Soltau, Partner
Tobias Duhe, Senior Associate, both Hamburg, both Competition & EU
Dr Niklas Ganssauge, Partner, Hamburg, Real Estate & Public
Sören Seidel, Partner, Hamburg, Labor, Employment & Pensions

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