CMS advises Stadtwerke München on acquisition of Jasna onshore wind farm project in Poland
Stuttgart / Warsaw – The municipally owned utility company Stadtwerke München has acquired the Jasna wind farm project in Poland from developer WKN and its subsidiary Sevivon, which both belong to the PNE Group. With this acquisition, Stadtwerke München plans to press ahead with its renewables expansion offensive. The wind farm comprises 39 turbines with a capacity of 132 MW and is scheduled to become operational at the end of 2020. The financial details of the deal were not disclosed.
A German-Polish CMS team advised Stadtwerke München on all legal aspects of the deal. In addition to acquisition of the shares in the project company, this work included drafting the project contracts for construction, operation and maintenance of the wind farm. Stadtwerke München is a longstanding CMS client and regularly relies on the law firm’s expertise, especially in relation to onshore and offshore wind farms. Examples include the acquisition of shares in the Global Tech 1 offshore wind farm project and the acquisition of two portfolios comprising a total of 14 onshore wind farms and 108 wind turbines.
The Jasna wind farm is Poland’s largest onshore project to date and is located approximately 40 kilometres from the Baltic Sea, south-east of the city of Gdansk. According to Vestas’ own data, its 39 wind turbines are expected to generate around 420 million KW of green electricity a year, enough to meet the needs of some 170,000 households in Munich.
Stadtwerke München GmbH is Munich’s municipally owned utility and service company.
PNE AG, based in Cuxhaven, Lower Saxony, is an international developer of onshore and offshore wind farms. The group owns the PNE and WKN brands. In addition to site surveys, its business activities include carrying out approval procedures, financing, construction, operation and repowering at the end of the plant’s service life.
Dr Carolin Armbruster, Partner
Dr Jochen Lamb, Partner
Martina Meier-Grom, Senior Associate
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Dorothée Janzen, Partner
Dr Niklas Ganssauge, Partner
Matthias Sethmann, Counsel
Dr Tilman Lorenz Petersen, Senior Associate, all Energy
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Dr Marc Seibold, Partner, both Banking & Finance
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