WFW Assists Strabag with Global Tech II Sale
International law firm Watson Farley & Williams (WFW) has advised Erste Nordsee-Offshore-Holding GmbH, a joint subsidiary of STRABAG SE and, indirectly, Etanax GmbH, on the legal and tax aspects of the Global Tech II sale to Vattenfall.
Malte Jordan, who led WFW’s Hamburg team that advised on the project’s sale, said: “We are delighted to have advised STRABAG on another offshore wind disposal, having done so previously on the successful sale of the Albatros project in January 2015”.
Global Tech II is located in the German North Sea, 85 km off the island of Borkum, and will consist of up to 79 wind turbines covering a total area of 47 km².
The realisation of the project now depends on Vattenfall’s success in the new bidding process laid out by the new German Renewable Energy Act (EEG) and new Offshore Wind Act (WindSeeG), which come into force next year. The first tender will take place in March 2017, and the second one in March 2018.