BKW enables pension funds to take out minority stakes in nine wind farms creating space for investments in renewable energies. The international energy and infrastructure company announced that it entered into a contract with Pensionskasse Stadt Zürich (the pension fund of the City of Zurich) and Medpension (a pension foundation for medical professionals) regarding the sale of a minority stake of 49% in nine wind farms in France, Italy and Norway with an installed capacity of 240 MW. With this deal BKW is enabling the two Swiss pension funds to take out a stake and represents a successful implementation of capital-light strategy.
The sale is subject to regulatory approval. The purchase price was not disclosed.
Kellerhals Carrard advised BKW on the transaction. The team consisted of Beat Brechbühl (partner, pictured left), Marc Hanslin (partner, pictured right) and Kevin MacCabe (all corporate/m&a) and Daniel Emch (partner, regulatory/anti-trust).