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News Jul 07, 2017

Shearman & Sterling Advises EDF EN Group Subsidiary REETEC on Acquisition of Offshore Wind Solutions

Shearman & Sterling advised REETEC GmbH (REETEC), a subsidiary of EDF Energies Nouvelles (EDF), on its acquisition of Offshore Wind Solutions GmbH (OWS), a German company specializing in offshore wind Operations and Maintenance (O&M).

Founded in 2014, OWS is responsible for O&M at the BARD Offshore 1 wind farm, located in the North Sea, 95km off the German coast. The acquisition of OWS comes with the renewal of the offshore wind facility maintenance contract for 10 years, by its owner Ocean Breeze Energy. OWS also has an Operations Control Center for offshore wind in Emden, the cradle of the German offshore wind industry. This center is ideally located, as it is in direct proximity to numerous North Sea offshore wind farms.

Through this acquisition, EDF complements its O&M expertise and confirms its ambition to expand in Germany and to strengthen its offshore wind activity. With 188 experts from OWS, REETEC will now have more than 350 O&M specialists across its onshore and offshore wind installation business areas.

The Shearman & Sterling team was led by partner Andreas Löhdefink (Frankfurt-Mergers & Acquisitions) and included partner Esther Jansen (Frankfurt-Finance); counsel Mathias Stöcker (Frankfurt-Antitrust) and Anders Kraft (Frankfurt-Tax); and associates Christoph Auchter, Kevin Löffler (both Frankfurt-Mergers & Acquisitions), Dr. Astrid Mayer (Frankfurt-Tax) and Odilo Wallner (Frankfurt-Finance).