Watson, Farley & Williams (“WFW“), a leading international law firm, has advised Stadtwerke Lübeck, a municipal utility, on the legal and tax aspects of the acquisition of shares in a ground mounted 20 MWp solar farm in Thuringia, Germany. The solar farm will be operated jointly with another utility partner.
The solar farm covers an area of approximately 40 hectares and has been connected to the local grid since August 2012. Stadtwerke Lübeck acquired a share of 8.8 MWp, which will provide 2,500 households with clean energy annually.
Stadtwerke Lübeck invested €3.6 million, which is so far the largest investment of this type for this North German energy supplier. The acquisition was effected through the purchase of shares in the operating company. WFW also advised the client on the relevant joint venture agreements with the municipal utility partner.
The WFW team in Hamburg was led by partners Dr Marcus Bechtel (Corporate) and Verena Scheibe (Tax). They were supported by associates Dr Ralf Hangebrauck (Corporate) and Timo Kopmann (Tax).
