CMS has acted for Mainstream Renewable Power (“Mainstream) on the disposal of the 450MW Neart na Gaoithe offshore wind farm project to the EDF Group, via EDF Renewables in the United Kingdom, a joint subsidiary of EDF Energy and EDF Energies Nouvelles. Mainstream is the world's leading pure-play renewable energy developer in high growth markets.
The Neart na Gaoithe offshore wind farm, which has been fully developed by Mainstream, is located in the Firth of Forth off the east coast of Scotland. The project has the potential to generate 450 megawatts (MW) of renewable energy, which is equivalent to the annual electricity provision of around 375,000 homes, and is expected to be fully commissioned by 2023. Mainstream was awarded the site in February 2009 by the Crown Estate and in 2015, it secured a fifteen-year Contract for Difference (CfD) from National Grid for the wind farm.
The CMS team was led by London partners Charles Currier and Munir Hassan and comprised Bill Carr, Brynn Horner, Kieran O’Brien and Leo Mikros (Corporate); Louise Dalton (Energy), Aaron Fairhurst and Richard Taylor (Tax); and Alison Woods and Andy Atwell (Employment).
Commenting on the transaction, Charles Currier said:
“The Neart na Gaoithe wind farm is of great importance for Scotland and we are pleased to have supported Mainstream on this high-level disposal. CMS is a leading advisor on renewables projects, and with significant presence across Scotland, we were ideally positioned to support Mainstream in completing this hand over.”
