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Eversheds Sutherland advises on Europe’s largest single site onshore wind farm

  • United Kingdom
  • Global

    30-11-2018

     

    Assisting valued client CGN Europe Energy with its European renewable assets strategy

    Eversheds Sutherland has advised longstanding client China General Nuclear European Energy (CGN Europe Energy) on its acquisition of a 75% stake in the 650MW Markbygden project in Sweden from GE Capital (GE) and Green Investment Group (GIG) part of Macquarie Group.

    The Markbygden project is the largest single site onshore wind farm in Europe. GE and GIG jointly acquired the project from Svevind AB in 2017 and CGN Europe Energy has acquired GIG’s full equity stake (50%) and half of GE’s equity stake (25%).

    Once construction is complete in 2019 the wind farm will be made up of 179 GE single-machine 3.63MW wind turbines and will meet the electricity demand of 400,000 households. It will also reduce carbon dioxide emissions by 750,000 tons per year.

    Partner Jason Lovell led the team which included senior associate Shelley Evans and associate Peter Graystone who were further supported by a team including Ben Brown, Miriam Bowder, Sacha Bacco and Kate Shannon.

    Jason Lovell commented:

    “The European renewables market is an attractive proposition for international investors. We are pleased to have supported CGN Europe Energy in this significant acquisition, which is its first in Sweden, and assisting in its strategy of acquiring and developing renewable assets in Europe.”

    Emma XU, Deputy Director of Investment at CGN EE, who led the transaction commented:

    “We were pleased to work with Jason and the broader team on this important transaction for CGN Europe Energy.”

     

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