11 Jun 2020 | 03:17 pm | 1 min. read
Multinational law firm Pinsent Masons has advised Diamond Transmission Partners Walney Extension Limited on the £447m acquisition and financing of the transmission assets relating to the 659MW Walney Extension offshore windfarm from Walney Extension Limited.
This regulated divestment of transmission assets, including the onshore substation, export cables and offshore substations, took place in accordance with tender round 5 of Ofgem's offshore transmission owner (OFTO) regime, whereby DTP Walney Extension was awarded an offshore transmission licence to own and operate the transmission assets following a competitive tender.
DTP Walney Extension is a partnership between Diamond Transmission Corporation Limited (a wholly owned subsidiary of Mitsubishi Corporation), HICL Infrastructure PLC, and Chubu Electric Power Company Netherlands B.V. (a wholly owned subsidiary of Chubu Electric Power Co., Inc.).
Walney Extension is a shared-ownership project between Ørsted (50%) and the project’s partners PFA and PKA (25% each).
The multidisciplinary London and Glasgow based Pinsent Masons team that advised DTP Walney Extension included Senior Associate David Ross and Solicitor Catherine Lusher advising on property aspects. Associate Philippa Godwin and Solicitor Imogen Dewar advising on planning and regulatory issues, Partner Murdo Maclean and Solicitor Beren Shorman advising on energy regulatory, projects and construction law matters and Partner Stephen Tobin, Senior Associate Michael Marston and Paralegal Tai Nguyen advising on financing matters. The acquisition team was led by Legal Director David Trethowan.
Commenting on the deal David Trethowan said, "We are proud to have supported the Diamond Transmission consortium on another acquisition and financing of offshore transmission assets as part of the Ofgem competitive tender regime, particularly given the current challenging circumstances. The successful completion of this transaction is a further demonstration of the firm's market-leading expertise in the offshore wind and offshore transmission sector".
Key Contacts
Multinational law firm Pinsent Masons has hired Gillian Harrington to join the firm’s Aberdeen office as employment partner from 6 May.
Multinational law firm Pinsent Masons has hired corporate partner, Rachel Soundy, to join the firm’s Birmingham office.
Multinational law firm, Pinsent Masons LLP, has advised IGCF VI Euro, L.P. a sub-fund of Balbec Capital LP, a global alternative investment manager headquartered in the United States on its first European public securitisation in relation to the issuance of notes totalling EUR 392 million backed by a portfolio of reperforming Spanish mortgage loans, arranged by Goldman Sachs.
Multinational law firm Pinsent Masons has today announced its latest round of partner promotions, with 24 set to join its global partnership on 1 May.
Multinational law firm Pinsent Masons has advised Australian heavy machinery manufacturer Elphinstone Group on its proposed takeover bid for Engenco Limited, a provider of sustainable transportation products.
Multinational law firm Pinsent Masons is continuing its expansion in Asia Pacific having received government approval to open our third office in mainland China.
For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on
Location contacts
Europe: [email protected]
Asia: [email protected]
Middle East: [email protected]
Australia: [email protected]