Amsterdam/Hamburg – The international law firm CMS has advised Partners Group, the global private markets investment manager, in its acquisition (on behalf of its clients) of a 45 % interest in the Dutch partnership holding the project rights for the offshore windfarm 'Borssele III/IV'. With closing of the transaction, Partners Group has become the largest shareholder of a consortium investing in the project that also includes Shell, DGE (a subsidiary of Mitsubishi Corporation), Eneco Group and Van Oord.
Following the finalization of the equity transaction, the consortium has successfully arranged the financing of Borssele III/IV offshore wind farm project. The project capex for the construction phase expected to commence is €1.3 billion, part of which is project financed.
An international CMS team of German, Dutch and Luxembourg lawyers led by Partner Dr. Holger Kraft (CMS Germany, M&A and Energy), Dr. Kerstin Block (CMS Germany, Finance & Banking), Martijn van der Bie (CMS The Netherlands, Corporate), Cecilia van der Weijden (CMS The Netherlands, M&A and Energy) and Julien Leclère (CMS Luxemburg) provided Partners Group with comprehensive legal advice with regards to the finalization of the acquisition as well as the project financing.
The offshore wind farm will be located about 22 kilometres off the Dutch coast of Zeeland and is expected to generate more than 3,000 GWh per annum, the equivalent of the electricity required by approximately 825,000 households. The main construction work is due to start in quarter 4 2019 with commercial production starting early 2021.
CMS Germany has already advised Partners Group previously with regard to its majority investment into offshore windfarm 'Merkur' in 2016 on behalf of its clients and the parallel financing of the 'Merkur' offshore windfarm.
Partners Group is one of the world's leading private market investment managers with USD 74 billion in assets under management and more than 1,000 professionals across 19 offices worldwide.
Dr. Holger Kraft, Lead Partner
Matthias Sethmann, Counsel
Kai Ostermann, Senior Associate,
Dr. Susanne Keck, Associate,
Luise Pelzer, Associate,
Constantin Lentz, all Energy
Charlotte von der Heydt-von Kalckreuth, Associate, Corporate
Dr. Olaf Thießen, Counsel, Tax
Dr. Marc Riede, Partner, Banking & Finance
Dr. Kerstin Block, Partner, Banking & Finance
Mark Warren, Associate, Banking & Finance
CMS The Netherlands
Martijn van der Bie, Corporate, Civil Law Notary
Elisabeth Anne von Meijenfeldt, Corporate
Cecilia van der Weijden, Energy
Maurits Rabbie, Energy
Fleur van Assendelft de Coningh, Labour Law
Julien Leclère, Partner
Sylvain Elias, Senior Associate
Aurélia Budzik, Associate, all Corporate