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Kluge supports wind power deal

Last week, it was announced that Zephyr and Norwegian Wind Energy sold the Rogaland-based windpower company Tellenes to an investment fund managed by the investment giant BlackRock. BlackRock is the world’s largest investment management firm by assets. Kluge law firm played a central part in the process.

The transaction was made public simultaneously with the announcement that Google has agreed to purchase all electricity production during the next 12 years from Tellenes, which is scheduled to be completed at the end of 2017. The agreement will give Google access to the renewable energy required to run the company's European data centres.

Kluge has assisted both the renewable energy company SunEdison, who has played a role as facilitator, and BlackRock, in connection with the windpower project. The team from Kluge has worked on the project since the autumn of 2015.

Kluge supported SunEdison with legal counsel in connection to the agreement for purchase and sale of electricity certificates as well as the power purchase agreement with Google. Additionally, Kluge provided legal advice to SunEdison and BlackRock in connection with the transaction structure, corporate structure and the financing of the deal.

"This has been a highly challenging and educational project, with numerous parties involved in several parallel processes. We have capitalised on large parts of Kluge's specialised legal expertise which, in combination with our renewable energy expertise, has been essential to deliver effective solutions to our clients," says Snorre Haukali, managing partner in Kluge,

"We enjoy stating that Kluge is the place to learn and to be challenged. This is precisely the kind of complex legal challenges that adds content to this claim," says Haukali.

Upon the scheduled completion in 2017, Tellenes in Rogaland will have 50 turbines. The total production capacity will be 160 megawatts, making it the largest wind farm in Norway. The project has already received all necessary planning approvals and permits.