Herbert Smith Freehills advises Transmission Capital Partners on purchase of transmission link to power up to 1 million homes

The purchase followed the TR7 competitive tender process for the grant of offshore transmission licences by Ofgem. Its successful conclusion ensures that Transmission Capital Partners – a consortium which includes Amber Infrastructure, International Public Partnerships and Transmission Investment – will own and operate the transmission assets delivering electricity from the 950-megawatt wind farm, to the national grid.

The acquisition of the transmission link for the Moray East Offshore Windfarm, located in the Moray Firth off the coast of Scotland, is the eleventh Offshore Electricity Transmission investment by Transmission Capital Partners. It has the capacity to transmit enough renewable electricity to power circa 1 million homes.

The Moray East Offshore Windfarm transaction, which was structured as an asset sale supported by third party debt financing arrangements, required the negotiation of a number of bespoke arrangements to address unexpected commercial challenges. The completion of the transaction is the culmination of over two and a half years of work by a dedicated cross-practice team. 

The firm's London Corporate team was led by partner and global head of Herbert Smith Freehills' ESG practice, Silke Goldberg, with support from of counsel Roman Churakov, senior associate Elizabeth Gadsby and associate Zoe Asher. Financing aspects of the transaction were led by partner Dhananjaya Chak, supported by senior associate Charlotte Whight and associates Abraham Whitworth and Sophie McVea. The firm's real estate practice, which advised on the land and permitting arrangements, was led by partner Catherine Howard, with support from senior associates Alistair Paul and Ben Hazenberg.

Silke Goldberg, partner and global head of Herbert Smith Freehills' ESG practice, says: "We are delighted to have advised Transmission Capital Partners on the latest investment in their portfolio of offshore transmission assets. The importance of this deal cannot be overstated as, by enhancing the ability to transmit renewable energy to so many homes, Transmission Capital Partners is playing an important role in the energy transition and emissions reduction."