Eversheds Sutherland advises The Renewables Infrastructure Group on Merkur offshore wind farm

• Germany

• Mergers and acquisitions
• Energy and infrastructure - Clean energy

21-12-2022

We have advised The Renewables Infrastructure Group (“TRIG”) on the acquisition of an additional equity interest in the Merkur offshore wind farm - an operational wind project located in the German North Sea.  The sale was from funds managed by InfraRed Capital Partners and the acquisition increases TRIG’s interest in the project to 36%.

The 396MW wind farm comprises 66 GE Haliade-150 6MW offshore wind turbines capable of producing enough clean power for almost half a million homes and benefits from a long-term Feed-in Tariff agreement. The acquisition reinforces TRIG’s objectives of investing in attractive renewables markets across a range of European countries with a balance of subsidised and unsubsidised projects.

Our team comprised of Partner Jason Lovell and Principal Associate Will Glover with funds support from Partner Ronald Paterson and with cross-border support in Germany from Partner Daniel von Brevern (who advised on the mandatory German FDI filing), Partner Dr. Martin Weitenberg and Associate Daniel Giese (who advised on the introduction of the windfall revenue tax).

TRIG is a London-listed investment company advised by InfraRed Capital Partners (“InfraRed”) as Investment Manager and Renewable Energy Systems (“RES”) as Operations Manager.

Jason Lovell commented:

“Delighted to act on behalf of TRIG in extending their ownership of the Merkur offshore wind farm.  This transaction shows that despite regulatory cross winds across Europe on generators of renewable energy there is still a huge appetite in the market for this important asset class. Another example of us working closely with our German colleagues to deliver for our clients on European wind”