Kaye Scholer Represents Wind Power Developer WKN USA in Turbine Purchase
Transaction first turbine order in US for this subsidiary of Germany’s BayWa Group
New York — Kaye Scholer represented wind power developer WKN USA, LLC, a subsidiary of Munich-based BayWa Group Company, in its purchase of 12 Nordex N100/2500 wind turbines from Nordex USA for the Mozart Wind Farm to be located approximately 60 miles northwest of Abilene, Texas, the nation’s leading region for wind energy installations over the last decade.
Los Angeles Partner Jeffrey Chester, head of Kaye Scholer’s Renewable Energy Finance team, advised WKN USA, along with along with Associates Elizabeth Sluder and Justin Johnson, and Partner Willys Schneider and Associate Gregg Benson on the tax issues. This purchase represents BayWa’s first investment in developing and constructing a commercial size wind project in the United States.
When fully operational, the turbines will generate enough energy to power about 9,000 homes. Delivery and installation will begin next August and the project is expected to go online in December 2012.
"We have always valued Nordex’s quality, expertise and creative solutions in the turbine field," commented Florian Zerhusen, Founder & CEO of WKN USA. "Kaye Scholer’s attorneys share these same qualities when it comes to legal counsel, so the firm was the natural choice to help us formalize the start of our working relationship with Nordex in the US."
Earlier this year, Kaye Scholer also represented WKN AG in its sale of 70 percent of WKN USA, LLC to BayWa r.e USA LLC, a wholly-owned US subsidiary of BayWa AG. An international trading and services group headquartered in Munich with locations in 16 countries throughout Europe and the US, the BayWa Group employs more than 16,000 individuals in its three core segments: Agriculture, Building Materials and Energy. Founded in 1923, the Group has concentrated all of its renewable activities under BayWa r.e. and is active in the field of wind, solar and biogas. Through its recent acquisition of WKN USA, LLC, BayWa continues to expand into the North American market.