Statkraft closes the acquisition of the Breeze Three portfolio of renewable assets in Germany and France

Statkraft closes the acquisition of the Breeze Three portfolio of renewable assets in Germany and France

Press releases | 04 October 2021

White&Case, Hogan Lovells and KPMG are pleased to announce that they advised Statkraft on the acquisition of the Breeze Three wind portfolio.

The Breeze Three portfolio comprises of 38 windfarms in Germany and four wind farms in France with a total capacity of over 350 MW. By means of a share deal, the Statkraft group acquired the assets in Germany and France with the objective of re-powering the onshore wind portfolio over the next years. 

The transaction was led by Statkraft’s inhouse team headed by Thomas Paliege (Head of Legal Germany), Christina Kohlmann (VP Group Tax Germany), Franck Dussurgey (Senior Legal Counsel) and Friederike Spaniol (Senior Compliance Officer)). 

Statkraft was legally advised by White&Case as well as Hogan Lovells. The essential tax work in the transactions was advised by KPMG Düsseldorf.

The KPMG tax team was led by Ingo Rieke, Partner International Transaction Tax advising Statkraft on transactions and international taxes for many years. Further, Senior Manager Hannes Haefele (Tax Due Diligence), Manager Mark Mischke (Tax Structuring, SPA) and Senior Associate Jens Panek completed the team.

Ingo Rieke commented: “We are very proud to close this transaction after almost 18 months with a very challenging tax structuring.”

The Hogan Lovells team was co-led by Dr. Tobias Faber and Dr. Carla Luh in respect of the financing aspects. Both are partners in Hogan Lovells’ Infrastructure, Energy, Resources and Projects team. 

Tobias Faber and Carla Luh jointly commented: “Statkraft is a major player in delivering on energy transition and the net-zero agenda, which is also of great importance to Hogan Lovells. We are proud to have supported our long-standing client Statkraft on the complex financing aspects of its first large-scale wind investment in Germany and France.” 

The team was further supported by Dr. Alexander Stefan Rieger (Infra/Energy M&A), Desirée Maier (Investigations & Compliance), Senior Associates Christian Hermanussen, Jürgen Kess and Marco Weibrecht, as well as associates Jens Velten, Jan Hendrik Müller and Pascal Wagenführ (all Infrastructure, Energy, Resources and Projects). 

White & Case advised Statkraft on M&A, Energy Regulatory and Finance. The team was co-led by counsel Dr. Carsten Rodemann and partner Thomas Burmeister (both M&A/Energy) and included partners Dr. Jörg Kraffel (M&A/Energy), Florian Degenhardt (EIPF), Dr. Riaz Janjuah (Restructuring) and Nathalie Negre-Eveillard (M&A/Corporate), local partners Dr. Thyl Hassler (M&A/Corporate), Matthias Grigoleit (EIPF), Béla Knof (Restructuring), and Dr. Andreas van den Eikel (Real Estate), counsel Kathrin Ahting (Public Law) and associates Jonas Tangermann (Restructuring), Verena Rudolph (M&A/Energy), Maximilian von Möllendorff, Baptiste Fondeur, Tala Ayoub (all M&A/Corporate), Christian Crohn (Public Law), Christian Riederer, Camille Fouque (both EIPF), Henri Bousseau and Anne Sauvebois-Brunel (both Real Estate).

Dr. Armin Hauschild, Düsseldorf, acted as notary.