Ørsted has signed an agreement on the sale of a 50 per cent stake in the German offshore wind farm Gode Wind 3 to funds managed by Glennmont Partners. Glennmont is owned by the asset manager Nuveen. Its institutional investors include the Teachers Insurance and Annuity Association (TIAA), Nuveen's parent company.
The wind farm Gode Wind 3 is under construction in the German North Sea and will consist of 23 turbines with a total capacity of 253MW. Ørsted, global leader in offshore wind, will build the wind farm, perform operations and maintenance services and market the electricity generated by Gode Wind 3.
The transaction is subject to regulatory clearances.
Hengeler Mueller advised Ørsted comprehensively on the transaction.
Hengeler Mueller team for Ørsted
M&A: Sebastian Schneider (partner, Frankfurt, lead), Nicolas Böhm (partner, Berlin), Andreas Breier (counsel, Berlin), Marika Öry, Georg Tauser, Diana Rosa (all Frankfurt), Philipp Pauschinger (Berlin, all associates),
Financing: Nikolaus Vieten (partner), Tom Shingler (counsel), Antonius Rodewig (associate, all Frankfurt),
Regulatory/Energy: Fabian Quast (partner, Berlin), Carolin Raspé (counsel, Munich), Rebecca Klein, Michael Schramm (both associates, both Dusseldorf), Andreas Puhl, Thomas Ruthemeyer, Kevin Marschhäuser (all associates, all Berlin),
Tax: Markus Ernst (partner, Munich), Sebastian Adam, Maximilian Maucher (both associates, both Frankfurt),
Antitrust: Thorsten Mäger (partner), Jörg Meinzenbach, Anja Balitzki (both counsel, all Dusseldorf),
Foreign Investment Control: Jan Bonhage (partner), Frauke Mielenhausen (associate, both Berlin),
IP/IT: Matthias Berberich (counsel, Berlin).