Linklaters advises Octopus on wind farm acquisitions
Linklaters has advised Octopus Renewables on its acquisition from RES of nine wind farms across France, Britain and Ireland in two deals totalling over €100 million.
The deals bring the number of transactions between Octopus and RES to five, cementing a relationship ongoing since 2015. This is Octopus’s first entry into the Irish market.
First entry to Ireland
Partner Richard Coar said: “We are delighted to have assisted Octopus Renewables on this strategic project. We have enjoyed working with Octopus to acquire and finance a range of renewable technologies in an increasing number of jurisdictions.
"The acquisition of a wind farm in Ireland represents Octopus’s first entry into the Irish market that we are proud to have been part of.”
Repowering
Francois April from Linklaters added: “Octopus and RES are also actively exploring the possibility of repowering a number of sites in France, while also considering the potential to repower other sites across the portfolio.
“Six of the nine wind farms are in France, corresponding to more than 100mw of the 130mw acquired from RES. This clearly showcases the industry’s continued drive to augment renewable capacity in France.”
The deal is a part of Linklaters’ increasing portfolio of large-scale work in the renewables sector. The firm also recently advised on:
- Green Investment Group on its acquisition of a 40% stake in East Anglia One, a 714mw development located off Britain’s Suffolk coast from Scottish Power Renewables,
- Octopus, in relation to its restructuring and releveraging of its 230mw portfolio of seven onshore wind farms in Britain, and on their acquisition of a 90% stake in a portfolio of two ready-to-build wind farms developed by Valorem SAS in Finland.