Onshore Wind

WFW advises Axpo on sale of €120m French wind park portfolio to CHORUS

24 June 2016


International law firm Watson Farley & Williams (“WFW”) advised Swiss energy trader Axpo Group (“Axpo”) on the sale by its subsidiary Volkswind GmbH of a French wind park portfolio with a total investment volume of €120m to Germany’s CHORUS Clean Energy AG (“CHORUS”).

Located in France’s Poitou Charentes region near the Atlantic coast, the portfolio consists of four new wind parks with a total planned capacity of 62.2 MW. Of the four parks, the two smaller have been fully operational since 2015, while the larger two will be up and running by the third quarter of 2016. Once all four parks are operational, they will generate 148 GWh p.a. electricity and provide energy for approximately 30,000 homes.

Axpo group is a leading international energy trader and developer of tailor-made energy projects. The group produces, trades and sells energy for more than three million people in over thirty European countries.

Bavarian-based CHORUS owns and operates eighty solar and wind parks in Germany, Italy, France, Austria and Finland with a total capacity of approx. 400MW.

The cross-border WFW corporate team advising Axpo was led by Hamburg partner Dr Malte Jordan. He was supported by Paris partners Arnaud Felix and Laurent Battoue, and associates Dr Malte Koch in Hamburg and Alban Vaque d’Anla and Julie de Breon in Paris. Partner Romain Girtanner advised on the French law tax aspects of the transaction.

Lead partner Malte commented: “We are delighted to have advised Axpo on this complex, cross-border sale, where we were once again able to bring to bear the experience and expertise of our international energy sector group. Advising on international projects like this portfolio sale demonstrate our expertise is based on solid, transactional experience and reinforces our standing as the leading law firm in Europe in the renewable energy space”.