Norton Rose Fulbright advises funds managed by Schroders Greencoat on the acquisition of a 24.5% stake in West of Duddon Sands offshore wind farm

Global law firm Norton Rose Fulbright has advised funds managed by Schroders Greencoat on the acquisition of a 24.5% stake in West of Duddon Sands offshore wind farm from Ørsted, with a transaction value of £456.1 million on a debt-free basis.

Schroders Greencoat is a leader in renewable infrastructure asset investments with a combined net generating capacity of over 7GW and £9.6 billion assets under management.

Located approximately 14 km off the UK west coast, West of Duddon Sands has been operating since 2014 and has a capacity of 389 MW.

Norton Rose Fulbright advised on all legal aspects of the transaction. The multidisciplinary team was led by London-based corporate partner Stephen Rigby. Stephen was supported by a corporate team consisting of counsel Alex Wills, senior associate Sam Morrey and associate Katherine Qiu.

Norton Rose Fulbright has worked with Schroders Greencoat for over ten years. Recent deals include advising Greencoat UK Wind plc and other funds managed by Schroders Greencoat on their £717 million acquisition of a 25% stake in London Array offshore wind farm (also from Ørsted) in 2023, Greencoat UK Wind plc on its £400 million acquisition of a 12.5% stake in Hornsea One offshore wind farm (from Global Infrastructure Partners) in 2022, and Greencoat UK Wind plc and Greencoat Renewable Income LP on their acquisition of a 25% stake in Burbo Bank Extension offshore wind farm (from Danish pension fund PKA) in 2021.

The full Norton Rose Fulbright team included:

• Corporate – Stephen Rigby, Alex Wills, Sam Morrey, Katherine Qiu and Georgia Mortimer Tracy
• Projects – Rob Marsh, Ben Carrozzi, Suncica Miletic, Claire Whitney, Christopher Aird, Isabel Perry, Charles Winch, Joseph McQuillan and Milly Minter
• Tax – Julia Lloyd and Giulia Schwartz
• Antitrust and competition – Ian Giles, Tim Schaper, Tobias Teichner and Jack Jeffries
• Real Estate – Charles Pinkerton and Helen Finnis
• Planning – Sarah Fitzpatrick