Linklaters has advised global leader in offshore wind power, Ørsted, on its divestment of 12.45% minority stakes in four of its operational UK offshore wind farms to leading global investment firm, Brookfield: Hornsea 1, Hornsea 2, Walney Extension, and Burbo Bank Extension, which have a combined total capacity of approximately 3.5 GW.
The value of the transaction is £1.745bn, which Brookfield is pursuing through Brookfield Infrastructure Fund V – the world’s largest closed-end infrastructure fund.
This transaction will enable Ørsted to make significant progress on its farm-down and divestment programme while ensuring a high level of value retention within the transaction. For Brookfield, this marks another step in its expansion into the offshore wind sector.
The transaction is expected to close by the end of 2024, subject to customary regulatory approvals.
Linklaters’ cross-practice team was led by Energy & Infrastructure partner Richard Ginks and Corporate partner Alistair Fraser, supported by managing associates Arani Chakrabarty and Thomas Chappatte, and associates Ed Jackson, Jane Jin, and Trisha Dasgupta. Partner Rhian Parker led on tax, while partner Anna Mitchell and managing associate Lucinda Richmond-Wigg led on antitrust and foreign investment.
Linklaters has market-leading expertise across geographies and sectors to advise clients on the full spectrum of climate and sustainability-related mandates – from wind and solar, to hydrogen, batteries and storage, green and sustainability-linked finance.
