CMS advises Siemens and Mainstream on disposal of remaining interest in world's largest consented wind farm development project

CMS London has acted for Siemens Financial Services (“SFS”) and Mainstream Renewable Power Limited ("Mainstream") on the sale of their remaining 66.66% ownership interest in the 1.2GW UK offshore wind development, Hornsea Project One, to DONG Energy. The project has been developed by SMart Wind (a 50/50 joint venture between Mainstream and SFS) and DONG.

This deal follows on from CMS's original advice to SFS and Mainstream in 2011 on the initial sale of a one third interest in the project to DONG.

Once completed, Hornsea Project One will be one of the world's largest wind farms. It is also one of the projects which was awarded a Final Investment Decision Enabling Contract (Contract for Difference) by the UK Government in April last year.

The core CMS team comprised partners Munir Hassan and Charles Currier and senior associate Stuart Hohnen, and were supported by associates Dalia Majumder-Russell and Lee Donovan and trainee solicitors Hanna Rannikmae and Ramez Krishnan.

Commenting on the transaction, Munir Hassan said: "Taking this significant deal from start to finish was complex, and required a deep level of knowledge and expertise in offshore renewables. It further underlines CMS's leading position in this sector."