Expanding offshore wind presence in Germany counseled by Dentons, on behalf of Enbridge
In a significant move towards renewable energy, Enbridge Inc., the operator of the world's largest crude oil and liquids pipeline system in Canada and the US, and Canada's largest gas distribution system, has announced the acquisition of a 24.45% stake in the German offshore wind farms Hohe See and Albatros from Canada Pension Plan Investment Board (CPP Investments). The transaction, which closed on November 3, 2023, added capacity to Enbridge's regionally diversified and growing renewable portfolio.
The wind farms, located in the North Sea, produce a combined 2.5 million megawatt hours of electricity each year, supplying energy to more than 700,000 households. This acquisition increased Enbridge's indirect ownership of Hohe See and Albatros to 49.89%.
Dentons, a global law firm known for its expertise in the energy sector, acted as the exclusive legal advisor to Enbridge on the transaction. This is not the first time Dentons has advised Enbridge; they previously advised on Enbridge's initial investment in the Hohe See and Albatros offshore wind farms in 2017 and a joint venture with CPP Investments in 2018. Dentons offers innovative and strategic advice to help companies achieve their business objectives.
Enbridge has shown a commitment to renewable energy, with interests in renewable and alternative power generation capacity totalling 2,175 MW net. The company intends to continue to invest in wind and solar, making this acquisition a strategic move in its renewable energy expansion.
The acquisition is a testament to Enbridge's focus on diversifying its energy sources and contributing to a more sustainable future. As the world moves towards renewable energy, companies like Enbridge are leading the way in the transition.
It is worth noting that, at the time of writing, there are no relevant search results available specifying the exclusive legal advisor for Enbridge Inc. in the 2023 acquisition of the 24.45% stake in the German offshore wind farms Hohe See and Albatros from CPP Investment Board.
This news comes as Dentons continues to provide legal advice to global companies in the energy sector, demonstrating their expertise and commitment to supporting companies in their transition to renewable energy.
