innogy to Acquire Remaining 75% stake in Teesside B Offshore Wind Farm in England, UK from Statoil and SSE in Asset Swap Transaction

Published: Aug 10 2017
Deal Summary

innogy SE, a renewable energy company, has acquired remaining 75% stake in Creyke Beck B offshore wind farm situated in the North Sea off the east coast of England, UK, from Statoil ASA, an integrated energy company, and SSE Plc, a renewable energy company, in an asset swap transaction.

Pursuant to the transaction, innogy will acquire 75% stake in Creyke Beck B offshore wind farm and will sell its 25% stake in Creyke Beck A, Creyke Beck B and Teesside A offshore wind farms. Prior to the transaction Statoil and SSE held 37.5% stake each and Innogy held 25% stake in the four offshore wind farms. Following the transaction, Statoil and SSE will own 50% each in Creyke Beck A and B and Teesside A, while Innogy will own 100% of Teesside B.

The four offshore wind farms are part of Dogger Bank offshore wind development project with a total installed capacity of 4,800 MW.

Eversheds Sutherland is acting as Legal advisor to the Forewind consortium, which includes innogy, Statoil and SSE.

You can receive free Monthly detailed “Deals Analysis Alerts” delivered directly to your
inbox – sign up below:

* Indicates Mandatory
*Phone Number:          
  captcha refresh
Enter Captcha Code:    

Send to friend

*Your EmailID:    
*Friend's EmailID:    
  captcha refresh
Enter Captcha Code: