15 January 2016
International law firm Watson Farley & Williams (“WFW”) has advised long-standing client Vattenfall, one of Europe’s leading electricity generators, on its disposal of a 49% stake in the 150 MW Ormonde offshore wind farm in England to Swedish pension group AMF for £237 million (circa SEK 3 billion). Vattenfall will continue to operate the wind farm as majority shareholder in partnership with AMF.
Ormonde, located off Barrow-in-Furness in Cumbria, has been fully operational since 2012 and receives Renewable Obligation Certificate (ROC) subsidies.
The WFW team advising Vattenfall was led by London-based Energy & Infrastructure partner Martin Lucas, assisted by fellow Energy & Infrastructure partner Paul Doris, Energy & Infrastructure senior associate Joe Hesketh, Corporate senior associates Richard O’Brien and Danny Heathwood and trainee solicitor Tanpreet Rooprai. Partner Richard Stephens advised on tax matters. Charlotte Williams advised on property matters and Vicky Chiu advised on construction matters.
Martin Lucas commented: “We are delighted to have advised Vattenfall on another major transaction in the sector, and to be part of the exciting growth of their European renewables business. The deal also cements WFW’s position as one of the leading advisers in the European offshore wind sector”.
KPMG acted as financial advisers to Vattenfall and AMF was advised by Infranode.