Wind Turbine Blades

WFW advises Union Investment on the acquisition of its first onshore wind farm project with a total capacity of 18 MW

4 February 2013


Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised one of the largest asset managers in Germany, Union Investment, on the legal and tax aspects of its acquisition of the Gunzhausen onshore wind farm project from RENERCO Renewable Energy Concepts (“RENERCO”). The financial details of this transaction are confidential.

The wind farm, situated 40 kilometres south of Nuremberg, was connected to the grid in 2011/2012 and includes nine Vestas V90 wind turbines, with a hub height of 105 metres and a total installed capacity of 2 MW each.

The acquisition marks Union Investment’s entry into the renewable energy market, and is the first asset for its new infrastructure fund UniInstitutional Infrastruktur SICAV-SIF, a fund for institutional investors geared towards European wind and solar plants. The total investment volume of this fund is targeted to be approximately €1 billion.

The Munich-based vendor RENERCO, a wholly-owned subsidiary of BayWa r.e. renewable energy GmbH, will continue to manage all technical and operational aspects of the wind farm.

The Hamburg-based WFW team was led by partner Dr. Malte Jordan (Corporate/Energy). He was supported by partners Gerrit Bartsch (Tax) and Michael-Alexander Rojnic (Real Estate) as well as associates Dr. Wolfram Böge, Dr. Manuel J. Rolfes, Dr. Malte Koch (all Corporate/Energy), Timo Kopmann (Tax) and Alexander Schroer (Real Estate).

Lead partner Dr. Malte Jordan commented: “We are pleased to have successfully supported Union Investment on its first renewable energy transaction. With our inter-disciplinary approach, we were able to provide Union Investment seamlessly integrated energy and real estate advice throughout the whole acquisition process.”