• Reference
  • 15 November 2013

E.ON sells 80% stake in Rödsand 2 wind farm

Global energy group E.ON has sold an 80% stake in the Rödsand 2 offshore wind farm to Danish energy company SEAS-NVE. E.ON keeps the remaining 20% stake.

Global energy group E.ON has sold an 80% stake in the Rödsand 2 offshore wind farm to Danish energy company SEAS-NVE. E.ON keeps the remaining 20% stake.

As already disclosed in the press, SEAS-NVE pays DKK 2.8bn for the 80% stake in the offshore wind farm Rodsand 2. The wind farm consists of 90 Siemens 2.3MW turbines with a total capacity of 207MW. It is situated in the Baltic Sea between the German island of Fehmarn and the Danish island of Lolland and produces clean, renewable energy for around 200,000 homes.

Bech-Bruun has assisted E.ON on the transaction.

Scandinavian cooperation
The transaction was conducted as a Scandinavian cooperation between Bech-Bruun, the Swedish law firm Mannheimer Swartling and the global provider of audit and advisory services, KPMG, all of whom provided assistance to E.ON during the entire transaction.

The process included, for example, choice of corporate structure, seller due diligence as well as the drafting of transfer agreement, shareholders' agreement and a 25-year management and service agreement.

The transaction is presently awaiting approval by the Danish Energy Agency and the EU competition regulator. Bech-Bruun is also providing legal assistance to E.ON on this part of the process.

Read more about the transaction in E.ON’s press release.

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