Investment firm Greencoat Renewables has acquired a stake of 50 per cent in total in the German offshore wind farm project Borkum Riffgrund 1 from investors Kirkbi and William Demant. Greencoat Renewables will become Ørsted's new co-investor in the project upon completion of the transaction, which is subject to regulatory approvals. Ørsted, global leader in offshore wind and developer of the wind farm, will continue to hold a 50 per cent stake in Borkum Riffgrund 1.
Hengeler Mueller advised Ørsted on the transaction and has been advising Ørsted on the Borkum Riffgrund 1 project since the development of the wind farm. The team included partners Sebastian Schneider (M&A/Energy, Frankfurt) and Thorsten Mäger (Antitrust, Düsseldorf), counsel Andreas Breier (M&A/Energy, Berlin) and Jörg Meinzenbach (Antitrust, Düsseldorf) as well as associates Marika Öry and Georg Tauser (both M&A, Frankfurt).
Fabian Schulze (Senior Commercial Asset Manager), Suzanne Flockhart (Lead Commercial Manager) and Saliha Bardasi (Senior Attorney) were responsible for the transaction within Ørsted.