Osborne Clarke is pleased to have advised on complex financing matters in connection with the sale of the Breeze Two bond-financed portfolio conducted by Christofferson, Robb & Company. The portfolio consists of 35 wind farms in Germany with a capacity of 310MW and 4 wind farms in France with a capacity of 27MW, to Statkraft.

The projects are between 15 and 21 years old and contain 185 wind turbines with strong repowering potential. Statkraft is expected to more than double the generation capacity of the portfolio.

The Osborne Clarke team was led by Antje Günther and supported by Reinhard Bunjes, Arsen Dutka and Dr Maximilian Orthmann (all Finance, Cologne and Hamburg), Dr Thies Goldner (Corporate, Hamburg), Mark Wesker, Tim Berisford and Liz Foley (Banking/Corporate, Bristol), Véronique Fröding und Marie Trecan (both Finance, DS Avocats, Paris). The advice involved developing a preferred transaction structure for the bidding process including the preparation of several bondholder meetings as well as amendments to the financing structure and eventually the settlement of the financing.

"We are very proud of successfully closing this transaction involving complex cross-border financing aspects and thereby supporting our client in this relevant divestment,” said Antje Günther. 

Laurie Sudwarts, Managing Director at Christofferson, Robb & Company said: “Osborne Clarke’s expertise and in-depth knowledge regarding financing-related matters in the renewables energy sector were vital in guiding us through this complex transaction. Alongside the depth of deal advisers, the Osborne Clarke team was adept at finding the right balance between protecting our interests and taking a considered commercial and pragmatic approach in helping us complete the transaction. We were pleased to have them on board and wish to thank them for their hard work and professionalism in managing this significant project to its successful conclusion.”

Advisors Breeze Two:

  • Osborne Clarke – Finance / Capital Markets
  • DS Avocats, Paris – Finance / French law
  • Watson Farley & Williams – Mergers & Acquistions

Advisor Statkraft:

  • Hogan Lovells LLP 
  • KPMG Düsseldorf (Tax)
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