Wind Turbine Blades

WFW advises PNE WIND AG on its sale of the offshore wind farm project Gode Wind II to Danish investor Brancor Capital Partners

11 January 2012

EN | DE |

Watson, Farley & Williams, a leading international law firm, is pleased to announce that it has advised PNE WIND AG on the sale of its shares in PNE Gode Wind II GmbH, the developer of the offshore wind farm project Gode Wind II, to HYSSING Vermögensverwaltungsgesellschaft mbH, an asset management company held by Danish investor Brancor Capital Partners ApS.

The wind farm will be located in the North Sea, about 38 kilometres off the German island of Norderney. Gode Wind II will comprise 84 offshore wind energy turbines with a total capacity of 252 MW. In June 2011 the transmission network operator, TenneT, confirmed PNE WIND AG’s connection to the grid, after having finalised the tender process for procurement of the grid connection components.

For the installation of Gode Wind II, PNE WIND AG has a supply contract with manufacturer Vestas for the 84 V112 wind energy turbines; pre-contracts with MT Højgaard A/S for 84 monopile foundations; with Draka Norsk Kabel AS for the inter-array cabling, and with ALSTOM Grid GmbH for the wind farm’s transformer station.

PNE WIND AG is a German stock corporation based in Cuxhaven, which focuses on the planning and implementation of onshore and offshore wind farm projects, including the development, projection, financing, operation and sale of wind farms , as well as after-sales services. To date, PNE WIND AG has installed 97 wind farms comprising 563 wind energy turbines and a total capacity of 804 MW.

The Watson, Farley & Williams team was led by Hamburg partner Dr Malte Jordan (Corporate/Energy), supported by partners Dr Stefan Kilgus (Finance) and Verena Scheibe (Tax) as well as associates Dr. Wolfram Böge (Corporate/Energy), Sven Fretthold (Finance), Manuel Rolfes (Corporate/Energy) and Dr Jan-Philipp Meier (Corporate/Energy; all Hamburg).

Dr Malte Jordan of Watson, Farley & Williams in Germany comments: “We were delighted to work on this transaction. This project marks another major step for the German offshore wind energy market as the repeated engagement by a financial investor demonstrates that German offshore wind energy projects are financially attractive. For Watson, Farley & Williams, having worked in 2011 on the financing of the Meerwind and Global Tech I projects as well as the sale of the Nördlicher Grund project, this transaction completes an extremely successful year for offshore wind energy projects.”