CMS is a leading advisor and “go to” firm for the offshore wind sector, having been deeply involved in all the innovations in, and the wider evolution of, the global offshore wind market since its inception. The team have advised on consenting, project arrangements, transactions and financings across more than 60 offshore wind farms worldwide, including the first R&D and then commercial scale floating offshore wind farms. CMS truly leads the sector, having helped to develop many of the early approaches that are now universal across the markets, such as some of the first shareholder structures, managed services agreements and offshore land and consenting arrangements.
The CMS team has a wealth of experience advising on offshore wind projects in emerging markets such as China, Vietnam and Taiwan, as well as having on-the-ground experts in other key emerging markets such as Brazil, Turkiye and South Africa.
CMS have extensive experience advising on some of the world’s largest onshore wind energy developments in the UK, Europe and Asia, and is a recognised leader in the field. We are ranked in both Chambers and Partners and Legal 500 as being a top tier firm for energy.
We have advised on all manner of onshore wind developments, including all of the relevant subsidy arrangements and the full range of real estate structures.
Our recent experience related to offshore wind includes:
- Empire Wind and Beacon Wind: Advising Equinor on its agreement with BP to sell 50% of its interests in the Empire Wind and Beacon Wind assets on the US east coast for a total consideration of $1.1bn. BP will also partner on US offshore wind going forward, with the Empire & Beacon projects alone comprising a $10bn investment to take to commercial operation.
- Borkum Riffgrund 3 (900MW) – Advising the Kansai Electric Power Co. on its participation in a consortium led by Glennmont Partners which has acquired a 50% ownership share in Germany’s 900MW Borkum Riffgrund 3 offshore wind farm from Ørsted for a transaction value of around €1.2bn.
- Hornsea (1GW+)- Advising Siemens and Mainstream on sales to DONG Energy.
- Moray Firth East (1866MW)- Advising the project company on many aspects of the Moray Firth development, including contracting issues and the joint venture through to consenting and day-to-day matters.
- Beatrice (588MW) – Advising on consents required for both the offshore and onshore elements of its wind farm development in the Outer Moray Firth. Advised Repsol on the disposal of a 25% stake in the project.
- Inch Cape (784MW)- Advising on consenting and contract procurement strategy. Negotiating key initial documents, including The Crown Estate documents. Advising Repsol on the disposal of a 100% stake in the project.
- Dudgeon (560MW)- Advising on numerous aspects of the project, including detailed advice on securing Investment Contracts under EMR and in relation to power purchase agreements. Advising on the acquisition of the project by Statoil and Statkraft and subsequent sale of a stake to Masdar. Advising shareholders on the divestment of the OFTO transmission assets.
- Galloper (340MW)- Advising in relation to the proposed project financing, including on bankability of different contracting forms (LOGIC etc). Advising a bidder participating in a tender exercise on the purchase of associated transmission assets.
- Triton Knoll (900MW)- Advising Statkraft on its acquisition of 50% of the project from RWE, including advice in relation to the service arrangements, consenting and subsidy issues.
- Yunlin Offshore Wind Farm (640MW) - Advising John Laing on its bid for a stake in Yunlin Holding GmbH, the holding company of Yunneg Wind Power Co. Ltd, which owns and develops the 640MW Yunlin offshore wind farm in Taiwan.
- Hohe See (497MW)- Advising EnBW on design and structuring of the project and on the negotiation of project agreements.
- Global Tech 1 (400 MW)- Advising on all aspects of the pathfinder project including drafting and negotiating the full contract suite (including TSA and SWA with Areva) to financial close.
- Gode Wind I (330MW)- Advised The Renewables Infrastructure Group Limited, a fund managed by InfraRed Capital Partners, on the acquisition of a 25% indirect equity interest in Gode Wind 1, a 330MW offshore wind farm located in the German North Sea, from Global Infrastructure Partners.
- Veja Mate (400MW)- Advising on the €1.2billion pre-construction financing of this project. Drafting and negotiation of the full contract suite. Advising on drafting and negotiating long form debt term sheet and equity documentation. Advising Highland Group on the acquisition of the project from BARD group, including consenting and regulatory issues.
- Borssele I & II (700MW) – Advising DONG Energy on the regulatory framework of the envisaged offshore wind energy tender of this project.
- Prinses Amaliawindpark (120MW)- Lead advisor to Econcern on the development of this offshore wind park, including the project financing, corporate structuring, procurement and construction.
- Noordzeewind (108MW)- Assisting Bouwcombinatie Egmond (Ballast Nedam and Vestas) in arbitration in relation to the EPC contract.
- Q10 (129MW)- Advising Vestas in relation to the TSA and SWA.
- Formosa 1 (Phase 2) Offshore Wind Farm (120MW)- Advising on contracts for the Formosa 1 (Phase 2) offshore wind farm project in Taiwan.
Floating offshore wind:
- Kincardine floating offshore wind farm (50MW) - Advising Kincardine Offshore Windfarm Limited in relation to the sale of the company and related structuring, funding and commercial and construction agreements.
- Hywind floating offshore wind farm (30MW) - Advising on numerous aspects of the first floating offshore wind farm to be developed in UK waters, including on its managed services arrangements, onshore and offshore land rights, and co-location at Batwind. Also advising Statoil on the sale of its 25% stake to Masdar.
- Windfloat floating offshore wind farm (20MW)- Advised EDP Innovation since the very beginning of the Windfloat Project, and in particular the drafting and negotiation of the initial MoU between EDP and Principal Power, the drafting and negotiation of the Project Agreement, the drafting and negotiation of the turnkey agreement, service Agreement, turbine supply Agreement and all the other project agreements and negotiation of financing agreement with Innovation Support Fund (FAI).
Our recent experience related to onshore wind includes advising:
- SSE on the disposal of a 49% stake in its Stronelairg and Dunmaglass wind farms to Greencoat UK Wind Plc in a £635m deal.
- EDF Renewables on the acquisition of the Dorenell wind farm projects, one of the largest onshore wind farms in Scotland (c.200MW), which holds a CFD.
- RWE on the sale of a stake in the Little Cheyne Court onshore wind farm (60MW) to Greencoat UK Wind Plc and the Green Investment Bank (GIB) and on the resulting joint ventures.
- Green Investment Group (GIG) on the acquisition of a 36.9 MW operating onshore wind farm in Radzyń, located in mid-northern Poland, from Radzyn Clean Energy SA.
- Red Rock Power Limited on its acquisition of Benbrack onshore wind farm development from RWE.
- Brookfield on the acquisition of a 1.2GW portfolio of development onshore wind projects, including the CFD holding Tralong Wind Farm (20MW) from PNE.
- Low Carbon Investment Management (Low Carbon) on its agreement to acquire three development stage onshore windfarms in Romania, with a total installed capacity of 1GW, from Nero Renewables BV.
- Equitix on the sale of two operational onshore wind parks in Poland to Equitix.
- Vattenfall Wind Power Ltd on the sale of the 240 MW subsidy-free South Kyle onshore wind project in Scotland to Greencoat which will complete on completion of construction.
- iCON Infrastructure Partners V fund on UK elements of their acquisition of 95% interest in Danish power producer Wind Estate. The transaction sees London-headquartered iCON Infrastructure take a majority share in a 282 MW portfolio of onshore and offshore wind power generation assets in Denmark and Scotland.
- The Co-operative Bank p.l.c on several onshore wind farms in mainland Scotland and the islands as the lender’s adviser, including review and negotiation of all project agreements, certificates of title and preparation of financing and security documentation.
- Santander on the funding of onshore wind projects in Scotland and England.
- The Royal Bank of Scotland and National Australia Bank on financing arrangements with The Renewables Infrastructure Group (TRIG) in respect of its £246m acquisition of a stake in six operating wind farms of 433MW from Fred Olsen.
To find out more about other related services you can visit the Energy & Climate Change expertise section.