Linklaters has advised a consortium of Transmission Capital Limited, Amber Infrastructure and International Public Partnerships (together, Transmission Capital Partners) on the acquisition and financing of the offshore transmission assets connecting the 150MW Ormonde wind farm to the onshore distribution network. Linklaters previously advised the same consortium on its successful acquisition of the offshore transmission assets for Robin Rigg, Gunfleet Sands and Barrow. In total, Linklaters has advised on four of the five offshore transmission projects in the UK market to reach financial close to date, further underlining the firm’s market-leading reputation in the transmission and wider energy sector.
With this fourth acquisition, Transmission Capital Partners has reinforced its position as being the market leader in UK offshore transmission. These four acquisitions represent 80 per cent of the offshore transmission projects to have closed to date. Building on this continued success, Transmission Capital Partners will now turn its attention to the second tender round, where it has already been awarded preferred bidder status for the 250MW Lincs wind farm (the first project in the second tender round to have been awarded to date) and is shortlisted for the two remaining projects, London Array (Phase 1) and Gwynt-y-Mor. Linklaters continues to advise Transmission Capital Partners on each of these projects.
Richard Coar, a partner in Linklaters’ Energy & Infrastructure group, who led the firm’s team, said:
“The ability of Transmission Capital Partners to continue to successfully close transactions in a challenging economic environment is a real testament to the unrivalled knowledge and experience of the team. The development and financing of transmission and interconnector assets across Europe will be of crucial importance to issues such as security of supply, delivery of a new generation mix (particularly in relation to offshore wind) and in turn the achievement of Member States’ 2020 targets. We look forward to continuing to work closely with Transmission Capital Partners and supporting them as they continue their investment in European transmission assets.”
For further information, please contact Katie Taylor on +44 20 7456 2287 or Rupert Winlaw on +44 20 7456 3219