Gleiss Lutz advises on implementation of offshore wind farm “Global Tech I” – 700 million euro project contract concluded

Gleiss Lutz has advised Global Tech I Offshore Wind GmbH comprehensively on the conclusion of project contracts for the “Global Tech I” offshore wind farm. The project company is erecting the offshore wind farm – which will have an operational output of 400 megawatts – approx. 110 kilometres northwest of Cuxhaven.

A contract worth more than 700 million euros on the supply and maintenance of 80 wind turbines, each with an output of five megawatts, has now been newly concluded between the project company and AREVA Wind GmbH, thereby finally taking effect. The agreed terms and conditions meet project financing requirements.

Gleiss Lutz comprehensively advised the project company together with a team from CMS Hasche Sigle (Dr. Holger Kraft, Hamburg) on this and other supply and construction agreements, such as for the offshore erection of wind turbines with foundations, as well as for the construction and offshore erection of an electrical substation. The turbines are to be delivered beginning in late summer 2012. As one of the first wind farms in the German North Sea, Global Tech I is to be connected to the grid the same year, and is scheduled for final completion in 2013.

Global Tech I Offshore Wind GmbH is owned by the two energy suppliers Stadtwerke München GmbH and HSE AG (Darmstadt), European energy trading company EGL AG, Esportes Offshore Beteiligungs GmbH as well as project development companies Norderland Projekt GmbH and Windreich AG.

The team of Gleiss Lutz lawyers included Dr. Tim Weber (partner, lead, project contracts, Frankfurt), Dr. Marcus Dannecker (partner, project development), Dr. Yvonne Kerth (development/energy, both Stuttgart), Dr. Olaf Otting (partner, procurement, Frankfurt), Dr. Christiane Freytag (procurement, Stuttgart), Dr. Stefan Mayer (partner, tax, Frankfurt), Dr. Stefan Weidert (partner, IP/IT, Berlin).