DLA Piper Facilitates Sale of Minority Stake in Major European Wind Farm to AG Insurance
In a significant development within the renewable energy sector, DLA Piper, a leading global law firm, has played a key role in advising Energy Infrastructure Partners (EIP) on the sale of a minority stake in one of Europe's largest onshore wind farms
The stake was sold to AG Insurance (AGI), marking AGI's inaugural direct equity investment in an onshore wind project. This transaction emphasizes the continuous commitment of major stakeholders toward sustainable energy initiatives.
The wind farm in question, known as the Nysäter wind farm cluster, represents a colossal renewable energy venture, comprising two distinct wind farms, Hästkullen and Björnlandhöjden, situated in Northern Sweden. Launched in 2021, this expansive project encompasses over 110 turbines and boasts a remarkable capacity, generating 474 million watts of clean electricity. This substantial output equates to powering an estimated 300,000 households, signifying a pivotal contribution to Sweden's green energy transition.
DLA Piper's involvement in the Nysäter project dates back to EIP's initial investment in 2018. The firm has been a steadfast advisor, actively engaged throughout the various phases encompassing construction, commissioning, and operational stages of the wind farms. This prolonged partnership underscores DLA Piper's expertise and deep-rooted engagement within the European renewable energy landscape.
The expert team at DLA Piper, led by Fredrik Lindblom and Victoria Rhodes, partners within the firm's Projects and Corporate practices respectively, spearheaded this significant transaction. Comprising a multi-jurisdictional ensemble, the team included legal professionals such as Bjorn Sjoberg, Guillaume Schaefer, Melody Brunot, Tim Hagberg, James Croft, Charlotte Eliades, and Matthew Manwaring. Their collaborative efforts underscore the firm's ability to navigate intricate deals spanning diverse jurisdictions and practice areas.
Commenting on the transaction, Fredrik Lindblom expressed pride in DLA Piper's continual involvement in the Nysäter project, emphasizing its pivotal role in Sweden's pursuit of sustainable energy solutions. Victoria Rhodes echoed the sentiment, highlighting the deal's seamless alignment with their team's proficiency in managing complexities inherent in evolving markets. This proficiency ensures efficient deal closure in line with stakeholders' expectations.
The sale of a minority stake in the Nysäter wind farm cluster represents a landmark deal, showcasing the growing investor interest in renewable energy initiatives. DLA Piper's pivotal role in facilitating this transaction underlines the firm's commitment to supporting and advancing sustainable energy development on a global scale.