CMS advises The Renewables Infrastructure Group Limited on key offshore wind acquisition
25 September 2019
International law firm CMS has advised The Renewables Infrastructure Group Limited (“TRIG”), a fund managed by InfraRed Capital Partners, on the acquisition of a 25% indirect equity interest in Gode Wind 1, a 330MW offshore wind farm located in the Germany North Sea, from Global Infrastructure Partners (“GIP”).
TRIG is a leading London-listed renewable energy infrastructure investment company, with a portfolio of 71 wind, solar and battery storage projects in the UK, France, the Republic of Ireland, Sweden and Germany, including the Gode Wind 1 acquisition. Gode Wind 1 has established a strong track record since operations commenced in February 2017 and benefits from an attractive Feed-In Tariff. It was developed and constructed by Ørsted who will continue to own 50% of the equity in the Project and provide Operations & Maintenance services under a 20-year contract.
CMS fielded a cross-border team of energy specialists to advise TRIG on the acquisition, led out of London by partner Danielle Heath and her team and partnered with Holger Kraft and his team from CMS in Hamburg.
Danielle Heath comments: “We are pleased to have supported TRIG on this important transaction. The acquisition is consistent with our client’s strategy and represents its second investment in offshore wind in this market. We were able to draw on our market-leading renewables expertise, having worked on a number of significant offshore wind acquisitions in the last year, combined with our large international footprint which enabled us to coordinate the project seamlessly between the UK and Germany and deliver a successful outcome for the client.”
The CMS team also included (from London) Michael Carroll, Brynn Horner, Aaron Fairhurst, Munir Hassan, Tom Forman, Toby Commander, Freddie May, Will Fenn, Caroline Hobson, Kabir Garyali and Jacqueline Vallat; (from Hamburg) Matthias Sethmann, Luise Pelzer, Gregor Lamersdorf, Constantin Lentz, Mark Riede, Christoff Henrik Soltau, Fritz Hammerstein, Denis Schlimpert, Kerstin Block, Bernd Neuthor, Susanne Keck, Olaf Thießen, Martin Mohr, Jan Gestefeld and (from Luxembourg) Julian Leclere, Melody Brunot, Elias Sylvain and Victoria Gros.