International law firm CMS has advised The Kansai Electric Power Co., Inc. (“Kansai”) on its participation in a consortium led by Glennmont Partners and comprising other institutional investors from the USA and Germany which has acquired a 50% ownership share in the Borkum Riffgrund 3 offshore wind farm from Ørsted for a transaction value of c. €1.2bn.
Borkum Riffgrund 3 will, when constructed, have a total export capacity of 900 MW and will be the largest offshore wind farm in Germany.
CMS fielded a cross-border team of energy specialists to advise Kansai on the acquisition, led out of London by partner Charles Currier and partnered with Dr. Holger Kraft and his team from CMS in Hamburg. Dutch law advice was provided by Cecilia van der Weijden and her team in CMS’s Amsterdam office.
Charles Currier comments: “We are delighted to have supported Kansai on this important transaction which represents Kansai’s first investment in the offshore wind sector outside of the UK. We were able to draw on our market-leading renewables expertise, combined with our large international footprint, which enabled us to coordinate the project seamlessly between the UK, Germany and the Netherlands and deliver a successful outcome for Kansai.”
The CMS team also included (from London) Munir Hassan, Michael Carroll, Tom Forman and Alicia Ingham; and (from Hamburg) Matthias Sethmann, Dr. Luise Pelzer, Dr. Kerstin Block and Svenja Kasimir.
