TES: strategic partnership with OGE to develop CO2 infrastructure
Frankfurt a. M. — The German offices of the international law firm Weil, Gotshal & Manges have advised Tree Energy Solutions (TES) on the establishment of a strategic partnership with Open Grid Europe (OGE) to develop and implement acarbon circular economy with the aim of avoiding greenhouse gas emissions.
The focus of future cooperation between TES and OGE will be on the development of a Germany-wide CO2infrastructure for the removal of CO2emissions generated in the production process CO2intensive industries cannot be avoided, and on the transport of CO2 especially for its reuse in a green, closed-loop system for importing green hydrogen. To this end, TES and Essen-based OGE, one of Europe’s leading long-distance network operators, are planning to jointly develop a 1,000 kmCO2 transport network in Germany as a first step. TheCO2 transport network will originate from a green liquefied gas import terminal (Green Energy Hub Wilhelmshaven) to be built by TES in Wilhelmshaven.
TES, which operates internationally, is a supplier of green hydrogen and green synthetic gas. To this end, TES is developing energy supply and import centers in Germany, Belgium, the Netherlands, France, Canada, the Middle East and the United States with the aim of integrating and optimizing global supply chains.
TES, whose investors include Switzerland’s Varo and other energy investors, plans to produce methane using mainly solar energy from the Gulf region, North Africa, North America and Mexico.
The Weil team for this transaction consisted of the following attorneys: Prof. Dr. Gerhard Schmidt (Corporate, Frankfurt/Munich), Manuel-Peter Fringer (Corporate, Munich), Andreas Fogel, Amelie Zabel (both Corporate, Munich) and Steffen Giolda (Antitrust, Munich).
Weil, Gotshal & Manges
Weil, Gotshal & Manges is an international law firm with more than 1,100 lawyers, including approximately 300 partners. Weil is headquartered in New York and has offices in Boston, Brussels, Dallas, Frankfurt, Hong Kong, Houston, London, Miami, Munich, Paris, Beijing, Princeton, Shanghai, Silicon Valley and Washington, D.C.