Wind Turbine Blades

WFW advises PNE WIND AG on the sale of the Calau IIA wind farm and the financing of nine onshore wind farm projects

20 January 2014


Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised PNE WIND AG (“PNE”) on the sale of the Calau IIA wind farm in Brandenburg, Germany, as well as on the financing of nine onshore wind farm projects in Lower Saxony and Brandenburg with a total financing volume of €192.8 million.

PNE sold the Calau IIA wind farm to the Hamburg-based holding company CEE. WFW advised PNE on contract negotiations, which were successfully completed by the end of 2013.

The wind farm, containing five wind turbines with a combined installed capacity of 15.4 MW, is connected to the grid and will shortly be fully commissioned. Having developed the wind farm, PNE will continue to be responsible for technical management following completion.

Additionally, WFW has advised PNE on the financing of nine onshore wind farms. The four financing banks for these transactions included Commerzbank, HSH Nordbank and NIBC.

Cuxhaven-based PNE plans and develops onshore and offshore wind farm projects. To date PNE has successfully developed wind farms with a combined capacity of more than 2,000 MW. CEE has been active as an investor in renewable energies for more than 12 years and is today one of the largest independent energy producers in Germany.

The WFW team was led by Hamburg-based partners Dr. Malte Jordan (Corporate) and Dr. Stefan Kilgus (Project & Structured Finance,). They were supported by associates Dr. Wolfram Böge, Dr. Manuel J. Rolfes and Dr. Malte Koch (all Corporate, Hamburg) as well as Dr. Wichard von Hoff and Dr. Alexander Nefzger (both Project & Structured Finance, Hamburg).

Dr. Malte Jordan, partner of the corporate group in Hamburg, says: “We are delighted to be able to continue our longstanding and successful cooperation with PNE. Through the experienced and smooth collaboration of the participating teams, internally as well as externally, we were able to complete this most recent transaction exceptionally quickly.”