GÖRG advises Trianel Windkraftwerk Borkum II GmbH & Co. KG during the investment of ewz/Fontavis in Trianel’s Borkum II wind farm
[Cologne, ] GÖRG has provided Trianel Windkraftwerk Borkum II GmbH & Co. KG (TWB II) with extensive legal advice in the acquisition of a third investor for Phase II of the Trianel Borkum wind farm. The process began in summer 2016.
In addition to the Aachen municipal utilities cooperative, 18 other municipal utilities (38% share) and EWE AG, Oldenburg (37.5% share) originally invested in the farm initiated by Trianel. The group of investors has now been completed through the addition of Elektrizitätswerk der Stadt Zürich (ewz) together with the Swiss investment fund Fontavis AG, which hold a 24.5% share.
As a result, the second expansion phase of the North Sea wind farm will also be realised with companies in municipal ownership. Trianel’s Borkum II wind farm consists of 32 wind turbines manufactured by Senvion with a rated power of 6.3 MW each. According to the current timetable, the shareholders are expected to decide in April 2017 to go ahead with the second phase of construction of the Trianel Borkum wind farm. Construction of the offshore wind farm is scheduled to begin in spring 2018. The plan is for the Trianel Borkum II wind farm to be connected, as a communal offshore project, to the grid by no later than the end of 2019.
GÖRG provided TWB II with extensive legal advice during the process of finding an investor and prepared all the contracts necessary for bringing ewz/Fontavis on board. In addition, it assisted from the beginning of negotiations up to the successful conclusion of the transaction contracts. GÖRG will continue to provide legal advice until the process reaches its financial close. During the coming weeks, the focus will be on the legal aspects of obtaining clearance from the competition authorities and in negotiating third-party financing.
The Trianel Group is a long-standing client of GÖRG's and GÖRG has, for years, been advising the cooperation of municipal utility companies and their project companies on the planning and financing of numerous large projects. Following its provision of extensive advisory services during project development and financing for Phase I of the Trianel Borkum wind farm, GÖRG is now advising Trianel during project development and project financing for the second expansion phase of the North Sea wind farm.
Advisers to Trianel
GÖRG Partnerschaft von Rechtsanwälten mbB
Dr Achim Compes (team lead), partner, M&A, energy law, Cologne
Dr Jörn Nissen, partner, corporate law, Cologne
Dr Mark O. Kersting, partner, financing, Frankfurt am Main
Dr Ruth Büchl-Winter, associated partner, M&A, corporate law, Cologne
Dr Carmen Schneider, associated partner, M&A, energy law, Cologne
Dr Christian Bürger, associated partner, competition law, Cologne