CGN Europe Energy’s acquisition of 75% interest in the 650MW Markbygden project in Sweden

Eversheds Sutherland has advised longstanding client China General Nuclear European Energy (CGN Europe Energy) on its acquisition of a 75% stake in the 650MW Markbygden project in Sweden from GE Capital (GE) and Green Investment Group (GIG) part of Macquarie Group.

The Markbygden project is the largest single site onshore wind farm in Europe. GE and GIG jointly acquired the project from Svevind AB in 2017 and CGN Europe Energy has acquired GIG’s full equity stake (50%) and half of GE’s equity stake (25%).

Once construction is complete in 2019 the wind farm will be made up of 179 GE single-machine 3.63MW wind turbines and will meet the electricity demand of 400,000 households. It will also reduce carbon dioxide emissions by 750,000 tons per year.

Partner Jason Lovell (picture) led the Eversheds Sutherland team which included senior associate Shelley Evans and associate Peter Graystone who were further supported by a team including Ben Brown, Miriam Bowder, Sacha Bacco and Kate Shannon.

Involved fees earner: Sacha Bacco – Eversheds Sutherland; Miriam Bowder – Eversheds Sutherland; Ben Brown – Eversheds Sutherland; Shelley Evans – Eversheds Sutherland; Peter Graystone – Eversheds Sutherland; Jason Lovell – Eversheds Sutherland; Kate Shannon – Eversheds Sutherland;

Law Firms: Eversheds Sutherland;

Clients: CGN Europe Energy;