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
Pinsent Masons has advised Bestinver Infra, FCR on the acquisition of the remaining shares in N6 (Concession) Holdings Limited and N6 (Operations) Ltd, with Japanese co-investor Daiwa Energy & Infrastructure Co. Ltd.
Multinational law firm Pinsent Masons has advised Sandoz on the acquisition of the remaining shares in Rowex Limited, a joint venture in Ireland between Sandoz and Rowa Pharmaceuticals.
Multinational law firm Pinsent Masons has advised Lloyds Bank on the launch of a £62 million investment fund to help small businesses across England and Wales access finance to support local jobs and economic activity.
Multinational law firm Pinsent Masons MPillay has appointed David Clinch as a partner to its corporate team in Singapore.
Multinational law firm Pinsent Masons has continued to add services to its Australian practice with the launch of a dedicated work health and safety (WHS) practice with the appointment of partner Carlie Holt and two lawyers.
Multinational law firm Pinsent Masons has advised international EV fleet and battery storage specialist, Zenobē, on the development, construction and operation of a 300MW / 600MWh transmission connected battery energy storage project to be situated at Kilmarnock South, near Glasgow.
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]