Ashurst advised Octopus Energy Generation (Octopus Energy) on the acquisition of Biebelnheim-Gabsheim wind farm on behalf of the Sky fund (ORI SCSp). The sellers of the joint project are German renewables developers JUWI and wiwi consult.
The wind farm with a capacity of 22.4 MW is currently being constructed in Wörrstadt (Rhineland-Palatinate / Germany) near Frankfurt and will be operational in 2023 with 4 Vestas V-150 turbines. The acquisition follows the acquisition of Gaishecke and Leeskow wind farms by Octopus Energy earlier this year. By 2030, Octopus Energy is planning to operate up to 1.2 GW of wind and solar farms across Germany.
Octopus Energy is one of the largest investors in solar and wind energy in Europe and currently manages 3 GW of renewable energy assets. Ashurst already advised Octopus Energy on its entry into the German onshore wind market through the acquisition of Gaishecke wind farm as well as on the subsequent acquisition of Leeskow wind farm.
The Ashurst team was led by partners Dr Maximilian Uibeleisen (Energy) and Dr Benedikt von Schorlemer (M&A). They were assisted by counsel Holger Mlynek (Commercial Contracts) as well as associates Dr Simon Groneberg (Energy/Regulatory), Jan Ischreyt and Friederike Preyer (both M&A). Advice on tax law was provided by a team from BDO led by Dr Michael Brauer and Christian Richter.
