EnBW has sold 49.89% of the shares in offshore wind farm EnBW Baltic 2 to Australian private equity investor Macquarie Capital.
The purchase agreement for the transaction has now been signed. The purchase price for the shares is EUR 720 million. They will be transferred to Macquarie Capital following antitrust clearance and full commissioning of the offshore wind farm, which is expected next summer. EnBW will operate the wind farm and perform maintenance tasks, resulting in the expansion of its service business.
A team led by lead partner Dr Jochen Lamb advised EnBW on all aspects of the transaction. EnBW also relied on CMS for legal advice recently when fourteen regional energy companies acquired a stake in its onshore wind farm portfolio.
EnBW Baltic 2 is being built 32 kilometres to the north of the island of Rügen in the Baltic Sea. Construction of the facilities is currently in full swing, with 34 turbines having already been installed. Weather permitting, the first turbines should start feeding electricity into the grid within the next few weeks. Full-scale commissioning of EnBW Baltic 2 is scheduled for the spring of 2015. The 80 turbines will then have a total installed capacity of 288 MW. The offshore wind farm can generate up to 1,200 gigawatt hours of power a year, enough to meet the needs of approximately 340,000 households and save 900,000 tons of CO2 emissions.
