NEWS

Wind Turbine Blades

WFW advises PNE WIND AG on the sale of two wind farms to Allianz

4 July 2014

EN | DE

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 onshore wind farms Calau II C and D to Allianz.

Located in the federal state of Brandenburg, Germany, the two wind farms have a combined capacity of 30.8 MW. Both are equipped with five Vestas V112 3.0 MW wind turbines with an extraordinarily high hub height of 140 metres. This enables the turbines to make optimum use of the woodland location, producing enough environmentally-friendly energy to power approximately 26,000 four person households.

While the Calau II C wind farm has been completed, Calau II D is still under construction. The wind farms have been developed by PNE, who will also be responsible for their technical operation following their completion.

Cuxhaven-based PNE WIND AG plans and develops onshore and offshore wind farm projects and to date has successfully developed wind farms with a combined capacity of more than 2,000 MW. Allianz SE is Europe’s largest insurer and has previously acquired a number of domestic and international wind farm projects from WKN AG, which until recently was part of the PNE WIND Group.

WFW advised PNE on the contract negotiations and on the corporate, regulatory, finance and tax law aspects of the deal.

The WFW team was led by Hamburg partner Dr. Malte Jordan (Corporate). He was supported by partners Dr. Stefan Kilgus (Banking & Finance, Hamburg), Dr. Christine Bader (Regulatory, Hamburg) and Gerrit Bartsch (Tax, Hamburg) as well as associates Dr. Wolfram Böge, Dr. Malte Koch (both Corporate, Hamburg) and Dr. Wichard von Hoff (Banking & Finance, Hamburg).

The lead corporate partner Dr. Malte Jordan said:“We are delighted to have advised PNE on the sale of two further wind farms from their renewable energy portfolio. This follows the successful sale of the Calau II A wind farm in December 2013. This transaction reaffirms the growing significance of the German onshore wind energy market.”