Linklaters advised a consortium of Transmission Investment LLP, Amber Infrastructure and International Public Partnerships (together, Transmission Capital Partners) in relation to the acquisition and financing by the European Investment Bank of the offshore transmission assets connecting the 270MW Lincs wind farm to the onshore distribution network.
The £307 million transmission link is the fifth offshore transmission project that Transmission Capital Partners has closed under Ofgem’s tenders for the long-term licence and operation of offshore transmission assets in the United Kingdom and is the consortium’s single largest investment to date. Linklaters has previously advised the same consortium on its successful acquisition of the offshore transmission assets for Robin Rigg, Gunfleet Sands, Barrow and Ormonde.
Transmission Capital Partners has emerged as a market leader in the offshore transmission market and has recently been shortlisted by Ofgem for a further two projects: Westermost Rough and Humber Gateway, both located in the North Sea off the coast of Yorkshire with a combined investment value of £400 million. Linklaters continues to advise Transmission Capital Partners on each of these projects.
Richard Coar, Projects partner at Linklaters , said: “The innovative funding structure adopted by the consortium further reinforces its leading position in the offshore transmission sector and we look forward to continuing to assist Transmission Capital Partners in this important market.”
The Linklaters team was led by Projects partner Richard Coar and managing associate Matthew Daffurn.