Herbert Smith Freehills advises CGN Europe Energy and Hermes Infrastructure on the acquisition of five Swedish onshore wind farms

Herbert Smith Freehills has advised CGN Europe Energy (CGNEE) and Hermes Infrastructure¹ who partnered to acquire an 813MW portfolio of five Swedish onshore wind farms from Aquila Capital.

Hermes Infrastructure’s Fund II (HIF II) will take an initial 20% stake in the portfolio and CGNEE has taken control of the remaining 80%.

Aquila Capital will provide asset management services on the portfolio through a management services agreement.

The portfolio comprises two operational onshore wind farms with an aggregate capacity of 216MW and three onshore wind projects in late-stage construction with an aggregate capacity of 597MW, all located in Sweden. Completion of the two operational wind farms occurred on 16 September and the remaining three are due to complete as they commence operations, expected by the first quarter of next year.

The corporate team was led by Rebecca Major (partner, Paris), with assistance from Sharif Abousaada (of counsel, Paris), Martin Bittner (senior associate, London), Jessica Dale (associate, Paris) and Matthias Steiner (trainee solicitor, Paris/London), Nico Abel (partner, Frankfurt), Ralf Tietz (senior associate, Berlin), Stephen Newby (partner, London), Davy Thai (senior associate, London) and Zoe Wilson (associate, London). Josh Lom (senior associate, London) managed the tax aspects. Katja Lehr (of counsel, Frankfurt) and Nicholas Macheras (associate, Paris) managed the financing aspects. Sergio Sorinas (partner, Paris) and Alexis Baudelin (associate, Paris) advised on anti-trust matters. The insurance aspects were run by Sarah McNally (partner, London) and Daniel Bunoza (associate, London).

1. References to “Hermes Infrastructure” are to Hermes GPE LLP trading as Hermes Infrastructure