WV Energie and Stadtwerke Bad Vilbel sell KNK Wind to offshore wind energy developer Parkwind assisted by Heuking Kuhn Luer Wojtek
May, 2018 - Duesseldorf, Germany
A team led by Dr. Kai Bandilla and Dr. Stefan Duhnkrack, both partners at the Hamburg office, advised Hesse-based WV Energie AG and Stadtwerke Bad Vilbel on the sale of project company KNK Wind GmbH for the planned Arcadis Ost 1wind farm in the Baltic Sea. The buyer is Belgian project developer and offshore wind farm operator Parkwind. The reason for the transaction was the contract awarded for the Arcadis Ost 1 project at the second German offshore wind auction.
Arcadis Ost 1 is an offshore wind energy project with a capacity of up to 350 MW, 19 km off Cape Arkona on R�gen in the Baltic Sea. In 2008, WV Energie had acquired the predeveloped project and transferred it to project company KNK Wind. Until mid-March this year, wind turbine manufacturer Nordex also held a stake of just under 40 percent in the company. As part of the transaction, Nordex sold all of its shares acquired in 2010 to WV Energie, which is now selling them to Parkwind.
WV Energie AG is headquartered in Bad Vilbel and has offices in Barcelona, Erfurt, Lohmar, Alzenau, and Viernheim. The company focuses on wind and solar energy and services for the energy sector, as well as for industry and trade.
Parkwind NV has been developing, financing, building, and operating offshore wind farms since 2009. The company is part of the Belgian Colruyt retail family.
Duhnkrack advises WV Energie on a regular basis. Bandilla had already advised KNK Wind on its participation in the first auction in 2017.
Counsel to WV Energie AG and Stadtwerke Bad Vilbel
Heuking Kuhn Luer Wojtek:
Dr. Kai Bandilla (Lead),
Dr. Stefan Duhnkrack,
Dr. Hans-Henning Hoff (all Corporate/M&A),
Dr. Stefan Bretthauer (Antitrust),
Falko Keller (Tax), all Hamburg
