PwC Legal advises on release of state aid for new offshore terminal in Bremerhaven
Frankfurt am Main, July 20th 2016
PwC Legal has comprehensively advised the Free Hanseatic City of Bremen on the state aid law notification procedure before the European Commission for the financing of the planned Bremerhaven Offshore Terminal (OTB). In its decision dated July 14th 2016, the European Commission granted investment aid for the construction of the terminal which will be used for shipping wind turbines to offshore wind farms. The overall costs of the construction project will amount to approximately €180 million.
Public funding of infrastructure projects is subject to EU state aid law. The European Commission is currently investigating a number of infrastructure projects, in particular in the ports sector, as to whether state funds are being used and whether the use of such funds is compatible with European state aid law. PwC Legal co-developed the financing concept for the City of Bremen, prepared the notification and supported the City in the negotiations with the European Commission and the Federal Ministry of Transport and Digital Infrastructure. The funding gap for the capital costs of the project was determined by PwC business consultants in close cooperation with the lawyers of PwC Legal.
PwC Legal had already advised the City of Bremen on the procurement procedure for the operational management of the terminal, which was completed in February 2016.
The ports of Bremen and Bremerhaven currently handle approximately 8,000 seagoing vessels and 75 million tonnes of goods per year. The new offshore terminal will be built south of Bremerhaven in a bend of the River Weser (Blexer Bogen) as a heavy-cargo, assembly and transhipment facility for the wind power industry. The 25 hectare site will have the capacity for about 160 wind turbines per year to be pre-assembled, stored and transhipped.
Advisors to the Free Hanseatic City of Bremen:
PwC Legal (Berlin):
Dr Friedrich Hausmann (team lead), Dr Georg Queisner (state aid law), Dr Gerung von Hoff, Oliver Kern, Anja Monnet (all procurement law), Katrin Scheer (Corporate/M&A)
PwC AG WPG (Frankfurt am Main):
Dr Georg A. Teichmann, Johannes Single, Frank Stadlbauer (all Advisory, Infrastructure & Mobility)
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