Linklaters has advised RWE Innogy GmbH on the sale of an 85% equity stake in the “Nordsee One” offshore wind farm to Northland Power Inc.

The large-scale “Nordsee One” project is located 40 kilometres north of Juist Island. In a first stage, 54 wind turbines are to be constructed, with the estimated project cost amounting to approx. €1.2 billion. Further expansion stages are planned. “Nordsee One” is expected to generate 1,300 gigawatt hours of electricity per year from 54 wind turbines, enough to meet the needs of approx. 400,000 German households.

The development of the “Nordsee One” project is well advanced. The co-operation between the two partners represents a new approach to ensure the effective completion of projects: RWE Innogy provides comprehensive and diversified services and expertise as well as extensive technical resources, and Northland Power is an independent power producer with long term experience in project financing.

RWE Innogy is a subsidiary of German energy company RWE, which has pooled the renewable energy expertise and power plants of the RWE Group since 2008. RWE Innogy plans, builds and operates facilities generating power from renewable energies and is presently operating offshore wind farms with a capacity of approx. 1,000 megawatt.

Northland Power, founded in 1987 and headquartered in Toronto, develops, builds and operates facilities that produce ‘clean’ (natural gas) and ‘green’ (wind, solar, and hydro) energy.

A Linklaters team led by Thomas Schulz (Corporate/Energy, Berlin) advised on the transaction. The team also included Christopher Bremme (Corporate/Energy, Berlin), Dr Jan Endler, Dr Markus Appel ( both Public Law, Berlin), Oliver Rosenberg (Tax, Düsseldorf), Jan Rudolph (Employment, Munich), Martin Dressel, Dr Martin Borning ( both Corporate/Energy, Berlin), Dr Anna Burghardt (Public Law, Berlin), Sebastian Pooschke (Corporate/Energy, Berlin), Ingo Sappa (Employment, Munich), Dr Jens Hollinderbäumer (Corporate/Energy, Berlin) and Dr Ferry Bühring (Public Law, Berlin.