Bond Pearce acts on landmark wind farm deal

Regional outfit Bond Pearce has landed a role opposite Linklaters advising regular energy client npower renewables on its stake in the world's largest offshore wind farm.

The deal sees Bond Pearce advising npower on its acquisition of a 50% stake in Greater Gabbard Offshore Winds from Scottish and Southern Energy (SSE) in a transaction valued at £308m. The firm put forward a team under Bristol-based corporate finance chief Simon Hewes, with corporate partner Paul Stone and commercial and IT chief Gareth Jones also advising.

Linklaters advised SSE on the sale, with the magic circle law firm involved for the energy company throughout the project. London projects partner Stuart Rowson took the lead role.

Following the acquisition both utility companies will enter into a 50/50 joint venture to develop the wind farm, which is expected to require investment of around £1.3bn. The farm will sit 25 km off the coast of Suffolk. Construction is due to start next year, with the farm set to generate roughly 500 megawatts from its 140 turbines.

The deal is part of a long list of renewable energy deals for Bond Pearce since the firm advised on the first commercial wind farm in the UK in 1990. The firm also advised npower renewables on the acquisition of the Rhyl Flats offshore project in 2002, which is now being constructed.

Hewes said: "The significance of this deal is in the size and because the technology is so advanced. When it is built, it will be the biggest offshore wind farm in the world."

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