GvW Graf von Westphalen and Gómez-Acebo & Pombo (GA_P) have advised Enagás, S.A. on its acquisition of a 10% stake in Hanseatic Energy Hub GmbH (HEH). Enagás S.A.’s investment is made with a view to become the operator of the future LNG plant in Stade (Germany) which will reach a regasification capacity of 13.3 bcm per year. The acquisition is subject to the fulfilment of conditions precedent inherent to this type of transaction.
Enagás, S.A., a listed Spanish company, is Spain’s TSO (Transmission System Operator) and Technical Manager of the Spanish gas system, with 50 years’ experience in the development, operation and maintenance of energy infrastructures.
The project, which is a key element in contributing to the European objectives of security of supply and decarbonisation, initially includes a Floating Storage Regasification Unit (FSRU). Subsequently, it is planned to build a terminal where LNG and renewable energy sources such as bio-LNG and synthetic natural gas can be imported, and is designed for the use of ammonia in the future. HEH's planned investment volume for the terminal amounts to approx. EUR 1 billion.
Under the lead of Hamburg based partner Dr Ritesh Rajani (Corporate/M&A), Enagás, S.A. was advised by a GvW team consisting of Christian Mayer-Giessen and Maximilian Andersen (both Corporate/M&A), Dr Sebastian Rohrer, Dr Maximilian Elspas, Guido Brucker, Antje Baumbach, Dr Reinald Günther and Tobias Lang (all Energy Projects/Energy Regulation), Saskia Soravia and Cosima Baumeister (both Permits and Environment), Lutz Leonard Lamprecht (Real Estate), Marius Bodenstedt (Employment), Andrea Torka and Patrick Wolff (both Finance), Dr Carsten Bittner (Antitrust) as well as Marian Niestedt and Max Jürgens (Foreign Trade).
The GA_P team has been co-led by Mónica Weimann (partner, Corporate and head of the German Desk) and Borja Carvajal (partner, Public and Regulatory), with the collaboration of Miguel Troncoso (partner, Competition), José Manuel Sánchez and Cristina Sánchez Weickgenannt (Corporate) and Álvaro Obregón (Public and Regulatory)
GvW Graf von Westphalen advised the transmission system operator 50Hertz on the award of a major contract for the North Sea Connector 2 offshore grid connection project. The project involves the planning, construction, installation and commissioning of a converter system comprising an offshore converter platform in the North Sea and an onshore converter station in Mecklenburg-Western Pomerania. The North Sea Connector 2 project is intended to connect offshore wind farms in the North Sea to the German electricity grid in future.
GvW Graf von Westphalen has advised Primepulse and Vsquared Ventures on the Series C financing round of NEURA Robotics GmbH. The transaction ranks among the largest venture financing rounds in the European startup ecosystem to date.
GvW Graf von Westphalen has advised Ethereal Space, Inc., a pioneering commercial space company, on space and satellite law matters and the establishment of its affiliate Ethereal Space GmbH.
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