CMS Hasche Sigle advises HEAG Südhessische Energie AG and Stadtwerke München on stake in offshore wind farm

Investment volume EUR 1.3 billion

HEAG Südhessische Energie AG (HSE), the Munich utility company Stadtwerke München (SWM) and other partners plan to build and operate an offshore wind farm in the North Sea with a total output of 400 MW through a joint company. The investors will set up 80 wind energy plants with an output of 5 MW each in two construction phases by 2013. Building work is scheduled to start this year. Investment in the project will be around EUR 1.3 billion.

A team from CMS Hasche Sigle, led by partner, Dr Jochen Lamb, advised HEAG and SWM on all aspects of this transaction.

The Global Tech I North Sea wind farm is to generate 1.4 billion kilowatt hours (KWh) per year – enough to meet the annual needs of over 460,000 households. The offshore power generating facility will emit over one million tonnes less harmful carbon dioxide per year compared to a conventional coal-fired power station.

HSE and SWM will each hold a stake of 24.9 per cent in the project company Wetfeet Offshore Windenergy GmbH. All necessary investigations for the site, including expert reports on wind resources, environmental compatibility and sea-bed analysis have been completed. The Federal Maritime and Hydrographic Agency has issued its construction and operating approval.

19 offshore wind farms are currently approved off the North Sea coast of Germany. Windpark Global Tech I will be one of the first wind farms to be completed in the exclusive economic zone.

Advisers CMS Hasche Sigle:

Dr Jochen Lamb, Corporate (lead partner)
Vladimir Cutura, Corporate (Coordination Due Diligence)
Dr Carolin Armbruster, Corporate
Roland Wutzke, Tax
Dr Oliver Freitag, Public Law

Contact:

Dr Jochen Lamb
Tel.: +49 711 9764 – 262
E-mail: Jochen.Lamb@cms-hs.com