Linklaters Helps Offshore Transmission Projects in UK Market to Reach Financial Close
Linklaters has advised on each of the first three offshore transmission projects in the UK market to reach financial close, reinforcing the firm’s market-leading reputation in the renewables and wider energy sector.
Linklaters advised a consortium of Transmission Capital Limited, Amber Infrastructure and International Public Partnerships (together, Transmission Capital Partners) in relation to the acquisition and financing of the offshore transmission assets connecting the 90MW Barrow wind farm to the onshore distribution network. Earlier this year, Linklaters also advised the same consortium on its successful acquisition of the offshore transmission assets for both Robin Rigg and Gunfleet Sands.
Transmission Capital Partners is rapidly emerging as the market leader in the offshore transmission market, having been awarded preferred bidder status on four out of the nine projects awarded to date. Building on this success, Transmission Capital Partners has also qualified as a bidder for all of the projects forming part of the next tender round being, London Array (Phase 1), Lincs and Gwynt-y-Mor. Linklaters continues to advise Transmission Capital Partners on each of these projects.
The Linklaters team was led by energy & infrastructure partners, Charlotte Morgan and Richard Coar in London.
Richard Coar, a partner in Linklaters’ Energy & Infrastructure group, said:
“We are delighted to have assisted Transmission Capital Partners in successfully closing the first three offshore transmission acquisitions in the UK, especially considering the challenging market conditions. The financing of offshore transmission assets will be critical to the successful delivery of the offshore generation targets both in the UK and across the rest of Europe. We are looking forward to continuing our close relationship with Transmission Capital Partners in this rapidly developing new market and to closing the Ormonde project in the following weeks.”
Source: linklaters, September 29, 2011