NEWS
WFW advises NORD/LB on the financing of the 30 MWp Krughütte solar farm
Watson, Farley & Williams berät die NORD/LB bei der Finanzierung des Solarparks Krughütte
4 February 2013
Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised NORD/LB Norddeutsche Landesbank Girozentrale („NORD/LB“) on the financing of the Krughütte solar farm, which has a total capacity of 30 MWp and a total investment volume of approximately €45 million.
The Krughütte solar farm, located in Saxony-Anhalt, Germany, was developed and constructed by German project developers SRU Solar AG, Berga and Parabel AG, Berlin, who continue to operate the farm. It was erected on the site of a former copper mine, and at over 100 hectares is one of the largest projects in the region.
NORD/LB is a leading financier of renewable energy projects in Germany and Europe. In addition to its activities in onshore and offshore wind farm projects, this transaction marks NORD/LB’s growing portfolio of European large-scale solar farm projects.
The WFW team was led by partner Thomas Hollenhorst (Project & Structured Finance, Hamburg). He was supported by partner Sven Fretthold and associates Marcus Mützelburg and Dr. Jan-Eike Andresen (all Project & Structured Finance, Hamburg) and Daniel Marhewka (Corporate, Munich).
Thomas Hollenhorst partner at Watson, Farley & Williams in Germany commented: “We are delighted to have had the opportunity to support NORD/LB on this transaction. This project is likely to be one of the last large-scale ground-mounted solar farm projects in Germany. Since 1 October 2012, the changes in Germany’s renewable energy code (EEG) have resulted in a limited feed-in tariff for these types of solar farm projects. This year, WFW will continue to focus on onshore and offshore wind farm projects. In the renewable energy sector, we are one of the leading legal and tax consultants in Germany and across Europe.”
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