Freshfields Advised RWE On The Sale Of 49% Stake In Nordseecluster And Thor Offshore Wind Projects To Norges Bank Investment Management

Freshfields advised RWE on the sale of 49% stake in Nordseecluster and Thor offshore wind projects to Norges Bank Investment Management

Freshfields advised RWE on its agreement with Norges Bank Investment Management (NBIM) for the sale of a 49% stake in the 1.6 GW Nordseecluster offshore wind project in Germany and the 1.1 GW Thor offshore wind project in Denmark. The agreed purchase price is approximately €1.4 billion, valuing the projects at around €2.87 billion. Closing of the transaction is subject to customary regulatory approvals and is expected by early Q3 2025.

RWE will retain a 51% interest and will remain responsible for the construction and operations of both projects. The Nordseecluster is being developed in two phases and is targeted to be fully operational by 2029, while the Thor project is expected to be fully commissioned by 2027. Together, the two offshore wind farms will supply over 2.6 million households in Germany and Denmark with green electricity.

The Freshfields team was led by Mirko Masek (Corporate/M&A, Hamburg) and included:

Andreas Ruthemeyer (Partner, Finance, Frankfurt), Ralph Kogge (Partner, Munich), Gregor von Bonin (Partner, Corporate/M&A), Georg Roderburg (Partner, Tax), Ulrich Scholz (Partner, Regulatory, Düsseldorf), Marlin Jürgens (Principal Associate, Finance, Frankfurt), Lukas Pirnay (Principal Associate, Corporate/M&A, Hamburg), Philipp Reinecke (Principal Associate, Regulatory, Berlin), Hendrik Wessling (Principal Associate, Regulatory, Düsseldorf), Sören Lehmann (Principal Associate, Tax, Düsseldorf), Charlotte Schings, Julius Raddatz, Philipp Schneider (Associates, Corporate/M&A, Munich), Denise Leinders (Associate, Regulatory, Düsseldorf), Torben Gerhards (Associate, Tax, Düsseldorf), Katharina Trompler, Iryna Karpliuk (Associates, Finance, Frankfurt), Karl Kuhn (Associate, Finance, Berlin), Marie von Armansperg (Associate, Regulatory, Berlin), Besdegül Ünsal, Pipitsa Kousoula (Senior Transaction Lawyers, Frankfurt), Naomi De Leon Muratalla, Esteban Hagedorn (Transaction Lawyers, Frankfurt), and Thibault Desdions (Transaction Lawyer, Berlin).

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