Hamburg – A consortium comprising of funds managed and/or advised by Partners Group, InfraRed Capital Partners, DEME Concessions, GE Energy Financial Services and the French Environment and Energy Management Agency (ADEME) has signed an agreement to sell 100% of Merkur Offshore GmbH to APG and The Renewables Infrastructure Group Limited (“TRIG”). The transaction is subject to customary regulatory approvals and consent from lenders. The closing is expected in H1 2020.
A multidisciplinary team from CMS Germany led by lead partner Dr Holger Kraft has advised the shareholders of the Merkur Offshore GmbH on all aspects of the disposal of the shareholdings in the wind farm, including the project-financing related aspects. Teams from CMS Luxembourg and CMS France have been involved as well. Two of the shareholders, Partners Group and InfraRed Capital Partners, had already been advised by CMS on the original purchase in 2016.
Merkur Offshore GmbH, based in Hamburg, has been responsible for the planning and construction of the 396-MW offshore wind farm "Merkur" located approximately 45 kilometres north of Borkum Island in the German North Sea. The project comprises 66 General Electric (“GE”) Haliade-150 6-MW turbines and is one of the largest operational offshore wind farms in Germany. It was fully commissioned in June 2019. The project benefits from a guaranteed Feed-in-Tariff until 2033 and has a 10-year O&M agreement with GE Renewable Energy for the service and maintenance of the turbines.
Partners Group, headquartered in Zug, Switzerland, is a global private markets investment management firm with EUR 80 billion in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. The company employs more than 1,300 people and is listed on the SIX Swiss Exchange.
InfraRed Capital Partners is a global investment manager focused on infrastructure and real estate. With around 160 professionals it operates worldwide and manages US$12bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe.
DEME is a world leader in the highly specialised fields of dredging, marine engineering and environmental remediation. The company’s activities encompass dredging, land reclamation, hydraulic engineering, services for the offshore oil & gas and renewable energy industries and environmental works. With about 5,200 professionals DEME operates in more than 90 countries worldwide.
A strategic GE Capital business, GE Energy Financial Services is a global energy investor with 35+ years managing assets through multiple energy cycles. Drawing on its technical know-how, financial strength and strong risk management, GE Energy Financial Services invests in and provides capital solutions for long-lived and capital-intensive projects and companies that help meet the world’s energy needs. It is headquartered in Connecticut with regional hubs in London, Houston, Washington D.C. and Singapore.
ADEME (L'Agence de l'environnement et de la maîtrise de l'énergie) is a French public agency under the joint authority of Ministry for the Ecological and Inclusive Transition and the Ministry of Higher Education and Research. Under the Investment for the Future Programme 1 and 2, ADEME has been awarded with €3.3bn to finance innovative and first-of-a-kind projects in low-carbon energy, smart grids, future transportation and recycling and waste treatment by means of subsidies, refundable grants, and equity investments.
Dr Holger Kraft, Lead Partner
Dr Eckart Gottschalk, Partner
Dr Jan Schepke, Partner
Matthias Sethmann, Counsel
Kai Ostermann, Counsel
Dr Christoph Poertzgen, Counsel
Dirk Baukholt, Counsel
Laura Moosleitner, Senior Associate
Dr Susanne Keck, Senior Associate
Luise Pelzer, Associate
Dr Constantin Lentz, Associate, all Corporate/M&A
Dr Marc Riede, Partner
Dr Julia Runge, Principal Counsel, both Banking & Finance
Dr Heino Büsching, Partner
Dr Olaf Thießen, Principal Counsel
Dr Martin Mohr, Counsel, all Tax Law
Christoff Henrik Soltau, Partner, Competition & EU
Dr Fritz von Hammerstein, Partner
Dr Clara Volkert, Senior Associate, both Real Estate & Public
Jürgen Siemers, Partner
Dr Philipp Nonnenmühlen, Associate, both Labor, Employment & Pensions
Dr Matthias Schlingmann, Partner, Dispute Resolution
Julien Leclère, Partner
Sylvain Elias, Counsel
Mélody Brunot, Senior Associate
Aurélia Budzik, Managing Associate, all Corporate/M&A
Alexandre Morel, Counsel
Charlotte Retailleau, Junior Associate, both Corporate/M&A
Armelle Abadie, Counsel
Philippe Gosset, Counsel, both Tax