International law firm Watson Farley & Williams (“WFW”) has advised DIF Erneuerbare Energien 1 GmbH and DIF RE Erneuerbare Energien 3 GmbH, subsidiaries of long-standing client Dutch Infrastructure Fund (“DIF”), on the sale of a portfolio of operational German wind farms to a subsidiary of Italian wind power operator ERG (“ERG”). The deal is scheduled to close in the second quarter of 2017, subject to consent from both the lenders and the German competition authority.
The wind farms comprising the portfolio, which were commissioned in 2007, are located in the Upper Saxony and Rhineland regions of Germany and have a total installed capacity of 48.4 MW as well as an expected average output of around 84 GWh per year. When operational, the wind farms will ensure approximately 66,000 t of CO2 emissions are avoided.
The WFW team advising DIF was led by Hamburg Partner Dr Malte Jordan (Corporate/ Energy). He was supported by Hamburg Partners Gerrit Bartsch (Tax) and Dr Christine Bader (Competition), and assisted by Associates Dr Nicolaj Faigle (Tax), Dr Malte Koch and Matthias Annweiler (both Corporate/Energy).
Malte commented: “We are delighted to have advised DIF once again on a transaction in the onshore wind sector. That DIF have opted once again for WFW to advise them on such a deal demonstrates the firm’s unrivalled expertise in the wind energy sector”.