Wind Turbine Blades

WFW advises Industrielle Werke Basel on its acquisition of a wind farm in France

19 April 2012


Watson, Farley & Williams, a leading international law firm, is pleased to announce that it has advised Swiss utility Industrielle Werke Basel (IWB), on the legal and tax aspects of its acquisition of a wind farm in Rageade in France from German project developer Dirkshof.

The wind farm Rageade is in the Auvergne region of France and has a total capacity of 12 MW, comprising six Vestas V90 wind turbines, and was installed and commissioned in 2011. The wind turbines have a nominal output of two MW each and will produce about 25 million kWh of “green” electricity every year, enough to cover the annual consumption of 7,000 households.

IWB is a utility covering Basel and north-western Switzerland, and is committed to investing approximately 300 million Swiss francs in renewable energy projects in Switzerland and other European countries up until 2015 to ensure Basel’s electricity supply is ultimately 100% sourced from renewable energy.

The Watson, Farley & Williams team was led by Dr. Marcus Bechtel (Corporate, Hamburg), assisted by Gerrit Bartsch (Tax, Hamburg), Eric Diamantis (Corporate, Paris) and Romain Girtanner (Tax, Paris), and included associates Cathrin Krüger (Corporate, Hamburg), Laurent Battoue, Julien Barba (both Corporate, Paris) and Cynthia Gozan (Tax, Paris).

Commenting on the deal, Marcus Bechtel said: “We are delighted to have advised IWB on its second French wind farm acquisition. In this transaction, we were able to demonstrate our ability to form cross-border deal teams since the transaction involved both German and French law aspects.”