Gleiss Lutz advises Norderland Group on sale of “Horizon” wind portfolio to enercity
A Gleiss Lutz team has advised the owners of the Norderland Group on the sale of the “Horizon" wind portfolio to energy company enercity. Closing of the transaction is still subject to the customary regulatory clearances. The parties have agreed not to disclose any financial details of the transaction.
The “Horizon" wind portfolio comprises 60 onshore wind farms with 166 wind turbines and a total generating capacity of 365 MW. Adding this to its existing portfolio will make enercity one of the largest players in the German onshore wind market with a total wind power capacity of 712 MW. Most of the 60 wind farms are located near the coast in north-western Lower Saxony in areas with extremely favourable wind conditions. The remaining wind farms are in Brandenburg, Saxony and Saxony-Anhalt. The majority of the turbines are new and have a high repowering potential.
The Norderland Group, based in Westerholt (East Frisia), is one of the pioneers of wind energy in Germany and has successively built up the portfolio sold as part of the transaction since the early 1990s. enercity will manage the portfolio from the Westerholt site in close cooperation with the existing workforce.
Hanover-based enercity AG provides sustainable and intelligent energy solutions. With a turnover of EUR 5 billion and more than 3,000 employees, the company is one of the largest municipal energy service providers in Germany (as of 2021). It supplies around 1 million people with electricity, heat, natural gas and drinking water, but also offers other energy-related services for electromobility, energy efficiency, decentralised customer solutions, telecommunications and smart infrastructure.
The following team of Gleiss Lutz lawyers advised the Norderland Group on the transaction: Dr. Tim Weber (partner), Dr. Cornelia Topf (partner, both lead), Antonius Mann, Michael Clever, Julia Wohlmuth (all Energy/M&A), Dr. Stefan Mayer (partner), Dr. Dominik Monz (both Tax, all Frankfurt).