07 03 2016Credit Suisse Energy Infrastructure Partners AG's 40% investment into the Fosen Vind Wind Project in Norway
DLA Piper has acted for a European investor consortium advised by Credit Suisse Energy Infrastructure Partners AG on all aspects of a 40 per cent investment into the Fosen Vind Wind Project in Norway (1 GW) - a project which is set to create the largest on-shore wind farm in Europe and one of the largest wind farms in the world.
The transaction spanned a period of 12 months and at all stages encompassed work streams from DLA Piper's integrated corporate, energy regulatory, real estate, projects, due diligence and debt financing practice teams across six jurisdictions.
Construction will commence in Q2 2016 and commissioning will be completed in 2020. The wind power project is located in an area along the coast of Central Norway, on the Fosen peninsula. A key feature is that the area provides some of the best conditions for renewable energy production from wind in Europe. The total installed capacity of 1000 MW/1 GW is more than the current installed capacity of wind power in Norway.Â
Statkraft - the Norwegian state owned hydropower company and Europe's largest generator of renewable energy - and local Norwegian utility TrĂ¸nderEnergi provided the remaining funds for the project.Â
The project team was led by Fredrik Lindblom (Picture), partner and Head of the Finance & Projects Group in DLA Piper's Oslo office including being in charge of Debt Finance, with the following DLA Piper Partners in charge of the following main work streams: Anders Lenborg (Oslo), energy and energy regulatory Natasha Luther-Jones (Leeds/London), turbine supply and management services contracts, Magnus LutnĂ¦s (Oslo), real estate and construction contracts, Kaare Oftedal (Oslo), corporate. Involved fees earner: Fredrik Lindblom - DLA Piper; Anders Lenborg - DLA Piper; Natasha Luther-Jones - DLA Piper; Magnus LĂ¸vlien LutnĂ¦s - DLA Piper; Kaare Oftedal - DLA Piper;
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