Watson, Farley & Williams has advised Allianz Renewable Energy Fund on the acquisition of wind farms in the German federal state of Brandenburg. The firm handled both the legal and tax aspects of the transactions.
WFW advised AREF on the acquisition of the “Rehfeld“ (12 MW) and “Göllnitz-West” (24 MW) wind farms. Previously, in January 2014, WFW advised Allianz Global Investors on the acquisition of the “Proschim” wind farm (11 MW) for AREF. Proschim is closely located to the two newly acquired wind farms.
All three wind farms were planned and constructed by German developer UKA Umweltgerechte Kraftanlagen GmbH & Co. KG and have a total combined capacity of approximately 47 MW. The three wind farms can generate around 125,000 MWh of clean and eco-friendly electricity which, in turn, is sufficient for 38,000 three-person households, according to a firm press release.
AREF was launched as a fund for institutional investors in 2012 and closed in September 2013. Investors committed approximately EUR 150 million to the fund.
The WFW team was led by Hamburg-based tax partner Verena Scheibe. She was supported by partners Dr. Malte Jordan and Dr. Marcus Bechtel (both Corporate/Energy, Hamburg), Thomas Hollenhorst (Banking & Finance, Hamburg) and Dr. Christine Bader (Corporate/Regulatory, Hamburg). Associates Cathrin Browne (Corporate/Energy, Hamburg), Dr. Henrik Lay and Timo Kopmann (both Tax, Hamburg), Alexander Schroer (Corporate/Real Estate, Hamburg), Dr. Wichard von Hoff (Banking & Finance, Hamburg), Leo Koltsoff and Anastasiya Korolchenko (both Corporate/Regulatory, Frankfurt) also assisted on the deals.
“We are very delighted to have again successfully advised AllianzGI on the expansion of the diversified portfolio with a specialized legal and tax expertise in the energy sector,” Lead partner Verena Scheibe said . “Also, the trusted cooperation between the two experienced teams has undoubtedly contributed to an efficient and professional conclusion of these acquisitions.”
