LawFuel.com – International law firm Eversheds has successfully advised bidders on over £50 billion of projects in the UK’s Round 3 Offshore Windfarm Leasing Programme, a £100 billion, 32GW programme launched by the Prime Minister today. The leading renewable energy firm was appointed to advise a number of bidders including the Forewind Consortium, a joint venture formed by SSE Renewables Developments (UK) Limited, a subsidiary of Scottish and Southern Energy plc, RWE Npower Renewables, the UK subsidiary of RWE Innogy, and two of Norway’s largest companies, Statkraft and Statoil.
The Forewind consortium has been successful in its bid for the Dogger Bank Zone, the largest Zone in the programme located 100km off the East coast of England. The Dogger Bank Zone alone represents approximately one third of the total Round 3 capacity, generating enough electricity to power 10 million homes. Eversheds also successfully advised RWE Npower Renewables on its bid for the Bristol Channel Zone and Eneco on its bid for the West Isle of Wight Zone.
Michelle Thomas, Head of the Clean Energy and Sustainability Group at Eversheds, led the Firm’s team of experts and was primarily assisted by solicitor Kay Korb. Michelle was supported by partners James Trafford on real estate, Marcus Trinick on consenting, Adam Collinson on competition issues, and David Levin on corporate structures. Michelle comments:
“We are immensely proud to have played such an important role in advising bidders on Round 3. The size and strategic importance of Round 3 in the energy sector means that it is absolutely one of a kind and will set future standards around the world. We worked with our clients to create an innovative corporate structure to enable the various parties to collaborate and work together while financing their interests and having the flexibility to deal with the individual financing and structural issues needed to succeed in the future.”
The Round 3 Programme will see offshore windfarms built around the coast of Britain as part of the wider mandate by the UK Government to generate 15% of the UK’s power by 2020.