22 Oct 2021 | 10:21 am | 1 min. read
Multinational law firm Pinsent Masons has advised Malaysian utility, TNB and Vantage RE, its UK/European arm, on its acquisition of a 49% stake in the offshore wind farm company Blyth Offshore Demonstrator Limited (BODL) from EDF Renewables.
BODL comprises of assets including five turbines with a total installed capacity of 41.5MW and further development rights for a floating offshore wind project of up to 58.4MW, located off the Northumberland Coast, England.
TNB is the largest electricity utility in Malaysia with a presence in the UK amongst other countries.
The Pinsent Masons team was led by Ian McCarlie and Brian Thumath with key support from James Todd and Steven McKinley.
Commenting on the transaction, Ian McCarlie: “This acquisition is strategically important for TNB as they look to grow renewables energy capacity to 8.3GW by 2025. The UK continues to be an attractive region for offshore wind M&A activity, with the maturing market providing more opportunities for investors from development through to operational stages. Blyth is unique in that it spans across all lifecycle stages, from the already operational offshore wind farm, to the opportunity to participate in the development of the floating offshore wind project.”
Brian Thumath added: “This partnership is a real example of how players are looking to work together in differing regions with a view to developing diversified renewables businesses which will drive global energy transition. We are delighted to have been able to act for TNB, on their maiden investment in UK offshore wind and to grow our relationship with them from SE Asia to Europe, supporting them on their journey to increase their renewable energy capacity.”
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