Milbank, Tweed, Hadley & McCloy LLP has advised EIG Global Energy Partners in the joint sale with their 50% joint venture partner Centrica plc, of the Glens of Foudland, Lynn and Inner Dowsing wind farms (‘GLID’) to a consortium comprising of funds managed by BlackRock and the UK Green Investment Bank Offshore Wind Fund. The enterprise value is approximately £423 million.
Glens of Foudland is an onshore wind farm (26MW) located in Aberdeenshire and the Lynn and Inner Dowsing offshore wind farms (194MW) are located off the coast of North East Lincolnshire.
The cross-practice Milbank team was co-led out of the firm’s London office by Energy and Corporate partners John Dewar and Stuart Harray. The team also included Corporate senior associates, Daniel Wayte and Sarah Ullathorne, Corporate associate, James Mackay and Special Counsel, Matthew Mortimer in respect of UK tax.
John Dewar remarked “We are very pleased to have advised EIG Global Energy Partners, one of the leading capital providers to the global energy industry on the sale of the GLID wind farms. This is a key example of how we continue to provide English law support across a range of core practice areas in some of the most important energy & natural resources projects currently taking place in the United Kingdom and globally.”