Ashurst advises Octopus on acquisition of Leeskow wind farm

Ashurst advised Octopus Renewables Infrastructure Trust on the acquisition of Leeskow wind farm in Brandenburg / Germany from German wind farm developer UKA.

The wind farm located in the municipality of Neu-Seeland, district Oberspreewald-Lausitz, has a total nominal capacity of 34.62 MW and consists of seven Nordex N149 turbines. The first turbine was commissioned in August 2020, the remaining six went into operation in August/September this year. Leeskow benefits from a government backed floor price for twenty years under the German EEG regime. The investment is not exposed to movements in or caps of wholesale power prices in the short to medium term resulting from the EU Commission's recent proposal to introduce price caps.

Octopus Renewables Infrastructure Trust is focused on building and operating a diversified portfolio of renewable energy assets in Europe and Australia. The close-ended investment company is managed by Octopus Energy Generation, one of the largest renewable energy investors in Europe.

The Ashurst team was led by partners Dr Maximilian Uibeleisen (Energy) and Dr Benedikt von Schorlemer (M&A). They were assisted by counsel Holger Mlynek (Commercial Contracts) as well as associates Dr Simon Groneberg (Energy/Regulatory), Jan Ischreyt and Friederike Preyer (both M&A). Senior Associate Alexandra Heitmann advised on financing aspects. Advice on tax law was provided by a team from BDO led by Dr Michael Brauer and Christian Richter.