Chatham Partners advises Stadtwerke Stuttgart on the acquisition of a wind farm repowering project in Bavaria

Chatham Partners has provided comprehensive legal advice to Stadtwerke Stuttgart on the acquisition of a wind energy project from SOWITEC. The project company is developing a repowering project at the Creußen site in the district of Bayreuth (Bavaria). Upon completion, the wind farm will comprise two Vestas V172-7.2 MW wind turbines with a total capacity of around 14.4 MW. In addition to the share purchase, the transaction includes a project development agreement concluded in parallel, under which SOWITEC will develop the project to construction-ready status, construct it on a turnkey basis, and also dismantle the existing wind farm. 

Chatham Partners’ advisory services to Stadtwerke Stuttgart included, in addition to due diligence, the structuring of the share deal, the negotiation and drafting of the share purchase agreement and the project development agreement, as well as matters relating to project financing. The Chatham Partners advisory team for this transaction was led by Malte Bever (Partner, M&A/Energy) and Sophie von Korff (Counsel, Project Development/Energy).

Team at Chatham Partners

Malte Bever, Partner (Lead, Partner, M&A/Energy), Sophie von Korff (Lead, Counsel, Project Development/Energy), Jonna Fernandes (Partner, Real Estate), Dr Christos Paraschiakos (Partner, Public Procurement and Competition Law), Jochen Wilkens (Partner, Finance), Thomas Hinrichsen (Partner, Energy), Christiane Stoehr (Partner, Energy), Miriam le Bell (Senior Counsel, Public Procurement and Competition Law), Marco Weibrecht (Counsel, Finance), Merten Breisacher (Associate, Finance), Dr Jonas Einfeldt (Associate, M&A), Niklas Hansen (Associate, Energy), Mona Heinrich (Associate, M&A), Dr Carina Schulte-Lübberding (Associate, M&A), Alexander Willeke (Associate, M&A)

About Stadtwerke Stuttgart

Stadtwerke Stuttgart GmbH is the municipal energy supplier for the state capital, Stuttgart. It pursues a consistent strategy to expand renewable energy and makes targeted investments in wind and solar projects to drive forward the regional energy transition. With the acquisition of the wind farm project in Creußen, the company is further expanding its portfolio of own generation facilities.

About SOWITEC

SOWITEC group GmbH, based in Sonnenbühl (Baden-Württemberg), is an internationally active project developer for renewable energies. The company develops wind and solar projects worldwide and has many years of experience in project development, including the repowering of existing wind farms. 

About Chatham Partners

Chatham Partners is a boutique law firm specialising in energy and infrastructure projects, based in Hamburg. The firm advises investors, developers and energy companies throughout the entire project lifecycle – from structuring and regulatory issues through to transaction execution. Chatham Partners offers integrated advice in the areas of energy law, real estate, M&A/corporate law, financing, tax structuring, as well as EU and competition law, and possesses particular expertise in transactions relating to renewable energy, energy storage (BESS) and infrastructure M&A.