Enbridge seeks guidance from Dentons on the growth of its wind energy endeavors offshore in Germany
Enbridge Expands Renewable Energy Portfolio with Acquisition of Stake in German Offshore Wind Farms
Enbridge Inc., a leading energy infrastructure company, has announced the acquisition of a 24.45% stake in the German offshore wind farms Hohe See and Albatros from CPP Investments. The consideration for the acquisition consists of €267 million in cash and €358 million in assumed debt, bringing Enbridge's indirect stake in the two wind farms to 49.89%.
The transaction, which was closed on November 3, 2023, was advised by the consulting firm CMS Hasche Sigle, with partners Jan Friederichs and Lars Kerstan leading the transaction. On the legal side, Dentons provided advice on all aspects of the deal, with a global team from Canada, Germany, and Luxembourg.
Dentons' team included partners Vivek Bakshi and Jamie Thomas, co-leads of the Corporate/M&A practice in Canada, as well as Namik Ramic in Luxembourg, Dr. Maria Brakalova on the Investment Control team, and Dr. Axel Schlieter leading the Banking & Finance team in Germany. The team was supported by senior associates such as Anna Groß on the Tax team, Katharina Rath on the Public Policy & Regulatory team, Max Purnhagen and Matthias Hause on the Corporate M&A team in Germany, and David Paiva on the Corporate/M&A team in Luxembourg.
Enbridge's involvement in renewable and alternative power generation capacity is not new. The company already boasts a net total capacity of 2,175 MW in this sector. With this acquisition, Enbridge expands its regionally diversified and growing portfolio in renewable energy.
The two wind farms together generate 2.5 million megawatt-hours of electricity, enough to power over 700,000 households. This acquisition aligns with Enbridge's strategy to invest in renewable energy projects that can contribute to a more sustainable future.
Enbridge operates the world's largest crude oil and liquids pipeline system in Canada and the U.S., the largest natural gas distribution system in Canada, and a portfolio of gas transmission, midstream, and processing facilities. This move into renewable energy is a strategic step towards a more balanced energy portfolio.
Dentons, a global law firm, has previously advised Enbridge on the initial investment in the offshore wind projects Hohe See and Albatros in the North Sea, as well as a 50-50 joint venture with CPP Investments. For more information about Dentons, visit their website.
In addition to the above-mentioned individuals, the Dentons team also included partners such as Dr. Florian-Alexander Wesche, Dr. Matthias Nordmann on the Competition team, and Michael Graf and Michael Helm on the Tax team. The team was also supported by associates such as Kurtis Parcells, Dr. Dominika Wojewska, and Julia Heitmann on the Banking & Finance team, and Paul Sieminski on the Banking & Finance team.
This acquisition marks a significant milestone for Enbridge in its pursuit of a more sustainable energy future.
Read also:
- Quantum Computing Market in the Automotive Sector Forecast to Expand to $6,462.13 Million by 2034
- List of 2025's Billionaire Video Game Moguls Ranked by Fortune
- VinFast Accelerates Globally, Leveraging Vingroup's Technological and Financial Foundation
- Transformation of Decarbonization Objectives in the Iron Ore Pellets Sector
