International CMS team advises UK-German €2.8 billion interconnector project NeuConnect on successful financial close

NeuConnect, together with a consortium of more than 20 national and international banks and financial institutions, has reached financial close for the NeuConnect interconnector project with an investment volume of approximately 2.4 billion pounds (2.8 billion euros).

The NeuConnect interconnector is expected to provide 1.4 gigawatts of electricity interconnection capacity and contribute to a stable energy supply via a 725 km high-voltage direct current link between the UK and Germany from 2028. Construction work on the new interconnector, which will connect two of Europe's largest electricity grids for the first time, is scheduled to begin this year.

With submarine cables, electricity will flow in both directions between Germany and the UK, supplying up to one and a half million households. By feeding renewable energy sources into Germany and the UK, NeuConnect says it will achieve net savings of over 13 million tonnes of CO2 over a 25-year period.

A multinational CMS team from the UK, Germany, and the Netherlands, led by Munir Hassan, has been advising NeuConnect since 2017 and has also worked closely with NeuConnect in the current, decisive phase. The advice here included advice on permitting issues, land rights, construction contracts, grid connection and corporate structure, as well as the preparation of due diligence reports for the purpose of financing.

CMS UK

Munir Hassan
Paul Smith
Rob Gray
Chris McGarvey
Sam Rylance
Vini Cowden
James Wright
Ketna Tanna
Chelsey Ross
Alistair McGrigor
Josh Atallah
Eleanor Lane
Juliet Stradling

Robin Hutchison
Rob Garden
Kathryn Nolin
Leilah Rawle
Emma Forbes-Stocken
Michael Carroll
Konrad Rawicz
Jenny Allan
Jo Dance
Caroline Barr

CMS Germany

Dr Holger Kraft, Partner, Hamburg
Dr Fritz von Hammerstein, Partner, Hamburg, Public Law
Matthias Sethmann, Principal Counsel, Hamburg
Dr Luise Pelzer, Senior Associate, Hamburg
Dr Stefan Kühl, Associate, Hamburg, alle Corporate/M&A
Sebastian Belz, Counsel, Hamburg
Jan Gröschel, Senior Associate, Hamburg, beide Public Law
Johannes Bescher, Counsel, Berlin
Dr Hans Fabian Kiderlen, Counsel, Hamburg
Cihan Cömert, Senior Associate, Hamburg
Christopher Schmeckel, Senior Associate, Hamburg, alle Real Estate & Public
Dr Olaf Thießen, Principal Counsel, Hamburg, Tax
Dr Kerstin Block, Partnerin, Hamburg, Banking & Finance

CMS Netherlands

Cecilia van der Weijden
Alexander IJkelenstam