Still in the early stages of development, the transaction is one of the first of its kind involving material development and funding commitments so early in the lifecycle of a largescale gigawatt capacity offshore wind farm. As a result, the joint venture arrangements contain a variety of bespoke mechanics to cater for governance through the thirty plus year development, construction and operational lifecycle of the DBS Offshore Windfarm.

Completion of the transaction is conditional on change of control approval from The Crown Estate and NSIA clearance in the UK.

Chris Andrew, partner at Allen & Overy said: “We’re delighted to be able to support Masdar, a long-standing client, on its latest investment in offshore wind farms and also on what is a unique structure covering development and funding so early in the DBS Offshore Windfarm’s evolution.”

The A&O team was led by banking partner Chris Andrew and corporate partner Oliver Bacon. They were assisted by senior associate Fatima Shawaf, consultant Sheila Connell and associates Andrew Boyce, Jemima Wolstencroft and Ailise Boyle.