CMS advises EDF Renewables UK on new partnership with VANTAGE RE

International law firm CMS has advised EDF Renewables UK, a subsidiary of the French utility company, Électricité de France (EDF), on its strategic partnership with Vantage RE Ltd (Vantage RE), a wholly-owned subsidiary of Malaysian utility Tenaga Nasional Berhad (TNB) which owns, operates and manages TNB’s portfolio of renewable energy assets in Europe. 

Vantage RE has acquired a 49% stake in offshore wind farm company Blyth Offshore Demonstrator Limited (BODL) from EDF Renewables UK, by way of a share purchase agreement. This new partnership between EDF Renewables UK and TNB marks TNB’s entry into the international offshore wind market, as BODL currently owns offshore wind assets off the coast of Blyth – situated in Northumberland, England. 

EDF Renewables UK remains the majority shareholder and owns a 51% share in BODL which includes the existing 41.5 MW wind farm and the development rights for the new Blyth floating offshore wind farm project which will have a capacity of up to 58.4MW. 

EDF Renewables will also continue to provide asset management services to the existing operational wind farm and to lead the development of the floating offshore project.

Danielle Heath, CMS Corporate partner, comments: “We are delighted to have advised long-term client EDF Renewables UK on this transaction. BODL’s ownership of both the operating Blyth Offshore Demonstrator Wind Farm and the under-development Blyth II floating offshore wind farm represented a unique opportunity in the UK offshore wind sector and we were very pleased to be able to leverage our leading experience in the sector.”

The CMS team was led by Corporate partners Doug Land and Danielle Heath and senior associate Michael Carroll. The extensive team advising on the transaction included Corinna Lee and Liviu Giuran (Corporate); Louise Dalton, Tom Forman, Freddie May and Sabrina Polito (Energy); Toby Commander (EPC); Aaron Fairhurst and Jason Todd (Tax); Russell Hoare and Lucy Charatan (Competition); Robin Hutchison, Robert Garden and Jessica Buttanshaw (Planning); Leilah Rawle and Amy Allen (Real Estate); Hugo Coetzee and Will Fenn (Finance) Joel Vertes (IP); Sarah Ozanne (Employment).