25 February 2014

Hengeler Mueller, De Brauw and Plesner advise TenneT on DolWin3 joint venture

De Brauw Blackstone Westbroek, alongside lead counsel Hengeler Mueller, has assisted TenneT on reaching an agreement on a joint investment in DolWin3 with Danish infrastructure fund management company Copenhagen Infrastructure Partners (CIP).

DolWin3 is a 900 MW offshore grid connection for wind farms in the German part of the North Sea. The total construction costs of the DolWin3 connection are expected to amount to EUR 1.9 billion. CIP has, through the investment company CI Artemis K/S, committed to a capital contribution of EUR 384 million, giving the Danish firm a 67 percent economic stake coupled with a 49 percent voting interest in this sustainable energy project. The investment company is funded by the Danish pension fund, PensionDanmark.

The DolWin3 project is the third connection in the DolWin cluster. The distance from the wind farms to the coast is about 83 kilometers. The grid connection then runs for another 79 kilometers on land to the converter station at Dörpen West, which will serve as the onshore electricity grid coupling point. The connection is expected to be completed by late 2017.

De Brauw partner involved
Berend Crans