Offshore Wind Farm

WFW advises STRABAG subsidiary on sale offshore wind farm project to Vattenfall

15 August 2016


International law firm Watson Farley & Williams (“WFW”) has advised Erste Nordsee-Offshore-Holding GmbH, a joint subsidiary of STRABAG SE (“STRABAG”) and, indirectly, Etanax GmbH, on the legal and tax aspects of its sale of the offshore wind farm project “Global Tech II” to leading Swedish utility Vattenfall. The parties have agreed to not disclose the purchase price.

Global Tech II is located in the German North Sea, 85 km off the shore of the island of Borkum, and will consist of up to 79 wind turbines covering a total area of 47 km². The realisation of the project now depends on Vattenfall’s success in the new bidding process laid out by the new German Renewable Energy Act (EEG) and new Offshore Wind Act (WindSeeG), which come into force next year. The first tender will take place in March 2017, the second in March 2018.

The WFW Hamburg team was led by Corporate/Energy partner Dr Malte Jordan, supported by partners Dr Christine Bader (Regulatory) and Gerrit Bartsch (Tax), as well as senior associate Dr Wolfram Böge (Corporate/Energy) and associates Jörg Walzer (Tax) and Matthias J. Annweiler (Corporate/Energy).

Malte Jordan comments: “We are delighted to have advised STRABAG on another offshore wind disposal, having done so previously on the successful sale of the Albatros project in January 2015. Our ability to help ensure this complex and challenging transaction proceeded smoothly comes courtesy of our unrivalled experience in the offshore energy sector as well as thanks to the effective co-operation of all parties involved”.