Ashurst advised Octopus Energy Generation (Octopus Energy) on the acquisition of the Biebelnheim-Gabsheim wind farm on behalf of the Sky fund (ORI SCSp). The sellers of the joint project are the German renewable energy developers JUWI and wiwi consult.
The wind farm with a capacity of 22.4 MW is currently under construction in Wörrstadt (Rhineland-Palatinate / Germany) near Frankfurt and will be operational in 2023 with 4 Vestas V-150 turbines. The acquisition follows the acquisition of the Gaishecke and Leeskow wind farms by Octopus Energy earlier this year. By 2030, Octopus Energy plans to operate up to 1.2 GW of wind and solar farms across Germany.
Octopus Energy is one of the largest investors in solar and wind energy in Europe and currently manages 3 GW of renewable energy assets. Ashurst previously advised Octopus Energy on its entry into the German onshore wind market via the acquisition of the Gaishecke wind farm as well as on the subsequent acquisition of the Leeskow wind farm.
The Ashurst team was led by partners Dr Maximilian Uibeleisen (Energy) and Dr Benedikt von Schorlemer (M&A). They were assisted by lawyer Holger Mlynek (Commercial Contracts) as well as partners Dr Simon Groneberg (Energy/Regulatory), Jan Ischreyt and Friederike Preyer (both M&A). Tax law advice was provided by a BDO team led by Dr. Michael Brauer and Christian Richter.
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