A multidisciplinary team from BDO has advised the British group Octopus Energy on several acquisitions and thus on its entry into the German onshore wind market. Octopus Energy, one of the largest investors in solar and wind energy in Europe, is thus continuing its growth course and expanding its renewable energy capacity in Germany for the first time.
With teams from the Transaction Tax department, headed by Dr Michael Brauer, and Corporate Finance, headed by André Horn, BDO AG Wirtschaftsprüfungsgesellschaft has repeatedly provided comprehensive advice to Octopus over the past few months, carrying out a financial and tax due diligence and advising on the acquisition structure, the purchase process and the purchase contract negotiations from a financial and tax perspective.
The company's entry into the German onshore wind market began with the acquisition of the building rights for the Gaishecke wind farm, which has a capacity of 35 MW and is located near Frankfurt am Main. The British renewable energy company acquired the rights to build the wind farm from a consortium of three project developers. The Gaishecke wind farm will have ten wind turbines that will generate almost 100,000 MWh of electricity each year. This will supply around 40,000 households with green energy and save approximately 60,000 tonnes of CO2 per year.
Just a few months later, the company continued its growth trajectory in Germany by acquiring the two wind farms Leeskow and Biebelnheim-Gabsheim. The Leeskow wind farm, with its seven wind turbines, will in future generate a total output of 34.6 MW and was acquired from the German energy park developer UKA. The Biebelnheim-Gabsheim wind farm, which is being built in Wörrstadt in Rhineland-Palatinate, was sold to Octopus Energy by the wind and solar park developers JUWI and wiwi consult. With its four wind turbines, the wind farm will generate 22.4 MW of power from 2023.
Octopus is already planning further investments in the German wind and solar energy markets in order to achieve its goal of 1,200 MW of wind and solar energy by 2030.