International law firm Simmons & Simmons has advised the sell side on the successful disposal of IFE Eriksen AG to ENGIE. The transaction, which was completed on 8th September 2023, marks a strategic move for ENGIE as it solidifies its expansion of its renewable energy portfolio in Germany.
The sellers of this substantial renewable energy asset were Smit Asset Management GmbH, SB Asset Management GmbH and a private individual.
Included in this acquisition are the Bösel-Kündelmoor wind farm in Lower Saxony, equipped with 10 wind turbines producing a total of 30 megawatts, and the Klosterfelde wind farm located in Brandenburg, featuring one wind turbine with a capacity of 3 megawatts. These wind farms, comprised of 11 ENERCON E-101 turbines, began operations at the end of 2014 and the beginning of 2015. ENGIE Deutschland Erneuerbare GmbH will take over operational management starting in 2024.
Commenting on the transaction, Dr Stephan Ulrich, said: “It has been a pleasure to work with our clients on this strategic sale. Advising our clients in this successful disposal displays our strengths in the field of renewable energy and the broad expertise of our German ENRI team lead by Jens Gölz”.
The Simmons team was led by Head of Corporate M&A in Germany, Dr Stephan Ulrich and his team (Daniel Alles and Anja Schlichting, Supervising Associates; Sabine Krause, Counsel) working with members of the German ENRI, real estate and merger control teams.
