Linklaters advised Glennmont Partners on the acquisition of 50% in offshore wind farm Gode Wind 3 from Ørsted

Linklaters advised funds managed by Glennmont Partners from Nuveen (“Glennmont”), one of Europe’s largest fund managers focused exclusively on investments in clean energy infrastructure, on the investment and financing for 50% of Ørsted’s Gode Wind 3 Offshore Wind Farm.

Gode Wind 3 has a capacity of 253 MW and is currently under construction alongside the Borkum Riffgrund 3 Offshore Wind Farm, where Ørsted and Glennmont are already 50/50 owners. The value of the Gode Wind 3 transaction is €473 million. Gode Wind 3 is expected to enter into commercial operation in 2024.

The transaction is subject to regulatory approvals.

Jay Sarma, Director at Glennmont said: “We are very pleased to have worked with the Linklaters team again on our acquisition of a 50% stake in the Gode Wind 3 offshore wind project from Ørsted. The multi-disciplinary team across corporate, finance, tax, and anti-trust specialisations demonstrated Linklaters’ strong technical skills alongside excellent German offshore wind sector knowledge.”

Linklaters provided comprehensive advice on corporate, financial, energy, regulatory and environmental law issues with a cross-practice team led by partners Thomas Schulz (M&A/Energy, Berlin), Michal Hlásek (Banking, Frankfurt), Oliver Rosenberg (Tax, Düsseldorf) as well as Laura Marx-Pfälzner (Managing Associate, M&A/Energy, Berlin).