CMS has advised The Renewables Infrastructure Group (TRIG) on its sale of a 15.2% equity interest in the 330MW Gode 1 offshore wind farm in Germany. The sale is subject to customary clearances and consents.
Gode Wind 1 offshore windfarm is located in the German sector of the North Sea, 45km from the coast. The operating windfarm comprises 55 turbines with a total installed capacity of 330MW and is part of a multi-farm development for Godes 1, 2 and 3, of which the combined renewable energy capacity will be 900MW upon completion of the wider development. The consideration is €100m at a 9% premium to carrying value and TRIG will continue to own a 9.8% stake in the wind farm.
CMS Corporate Partner Danielle Heath comments: “We are delighted to have been able to support TRIG from its initial acquisition of an interest in the wind farm in 2019, through to the sale of a stake this year. TRIG is a key relationship for the firm and, as client relationship partner, it has been great to work with them for many years now, including the full life cycle of this investment. We wish them the best as they create headroom for future growth and look forward to continuing to assist with their plans together going forward.”
Danielle led the CMS UK team, which included Brynn Horner, Joe Ladusans, James Day, Aisling Knapton, Louise Marchington and Lucy Delamere (Corporate - UK), and Jason Todd (Tax - UK). Wider support was provided by Pawel Hermelinski and Angélique Eguether (Corporate - Luxembourg), Holger Kraft, Matthias Sethmann and Carl-Friedrich Thoma (Corporate/M&A - Germany), and Russell Hoare, Lucy Charaton and Jean-Francois Willems (Competition - UK).
