Hamburg – Hamburg-based asset manager Luxcara has acquired the Eikeland-Steinsland onshore wind farm project in southern Norway. Together with MEAG, the asset manager of Munich Re and ERGO, it also initiated and structured the financing. Comprising 37 turbines, Eikeland-Steinsland’s total installed capacity of 155.4 megawatts is due to be connected to the grid in 2019. The purchase price was not disclosed.
A CMS team headed by lead partner Dr Holger Kraft again advised Luxcara on all legal aspects of the acquisition. The advice related to both the transaction itself and negotiation of the project contracts, including in particular support for implementing the finance requirements. CMS has been advising Luxcara on renewable energy projects throughout Europe for several years, most recently on the acquisition of the Egersund onshore wind farm in Norway, which was connected to the grid last year and has a planned output of 111.2 megawatts.
The Eikeland-Steinsland wind farm will be added to the portfolio of a renewable energy fund advised by Luxcara. The portfolio of the institutional fund includes solar and wind power projects in Germany, the UK, Spain and Scandinavia.
Luxcara is an independent asset manager that creates investment opportunities in renewable energy and infrastructure for institutional investors. The owner-managed company was founded in 2009 by the sole shareholders, Dr. Alexandra von Bernstorff and Kathrin Oechtering. Luxcara acquires, structures, finances and operates renewable energy portfolios with emphasis on selling energy based on long-term power purchase agreements.
Luxcara's portfolio comprises solar and wind power plants in Europe with a total capacity of almost one gigawatt and an investment volume of nearly 2.3 billion euros.
CMS Germany
Dr Holger Kraft, Lead Partner
Dr Hans Fabian Kiderlen, Counsel
Matthias Sethmann, Counsel
Kai Ostermann, Senior Associate
Gregor Lamersdorf, Associate
Dr Susanne Keck, Associate
Luise Pelzer, Associate
Dr Tilman Lorenz Petersen, Associate, all Energy
