Hamburg – Luxcara and GE Renewable Energy have signed a contract for the supply of 137 wind turbines for the 753 MW Önusberget wind farm in Sweden. The parties also agreed a full-service maintenance agreement with a 25-year term. The project comprises the sub-farms Kallamossen and Djupdal and will produce enough electricity to power the equivalent of 200,000 Swedish households for a full year. The company describes the project as the largest single onshore wind farm in Europe.
A CMS team headed by lead partner Dr Holger Kraft and lead principal counsel Matthias Sethmann advised Luxcara on all legal aspects, in particular on negotiating and concluding both contracts. CMS also provided Luxcara with comprehensive legal support when acquiring the project in 2019. CMS has been advising Luxcara on renewable energy projects throughout Europe for some ten years now.
Hamburg-based Luxcara is an independent asset manager that provides institutional investors with investment opportunities in the renewable energy space. Established in 2009, the firm acquires, structures, finances and operates renewable energy projects and related infrastructure as a long-term buy-and-hold investor. The company specialises in structuring power purchase agreements on the open market.
GE Renewable Energy offers a broad portfolio of end-to-end solutions for the green energy sector. According to the company’s own figures, GE Renewable Energy has so far installed more than 400 GW of renewable energy capacity worldwide. The company has over 40,000 employees across more than 80 countries.
Dr Holger Kraft, Lead Partner
Matthias Sethmann, Lead Principal Counsel
Dr Luise Pelzer, Senior Associate
Dr Constantin Lentz, Senior Associate, all Corporate/M&A, all Hamburg
Dr Kerstin Block, Partner, Banking & Finance, Hamburg
Dr Sebastian Cording, Partner, TMC, Hamburg
Dorothée Janzen, Partner
Christoph Zarth, Partner, both Commercial, Hamburg
Dr Hans Fabian Kiderlen, Counsel
Dr Tilman Petersen, Senior Associate, both Real Estate & Public, Hamburg
Christoff Henrik Soltau, Partner
Shaya Stender, Associate, both Competition & EU, Hamburg
Dr Matthias Schlingmann, Partner, Dispute Resolution, Hamburg