CMS Cameron McKenna has advised on a joint venture to create a major wind farm development off the coast of North Wales.
The €2bn (£1.65bn) Gwynt y Môr project – developed by RWE (60 per cent stake), Stadtwerke München (SWM) (30 per cent) and Siemens (10 per cent) – will feature 160 turbines and deliver 576MW of energy once it is completed in 2014, making it one of the largest offshore facilities in the world.
Corporate partner Charles Currier led the Camerons team acting for longstanding client RWE on the transaction, alongside energy partner Munir Hassan, property partner Martin Pennell and tax partner Keith Gregory.
Currier said: “This complex deal further strengthens our excellent relationship with RWE and highlights the firm’s recognised expertise in the field of renewable energy.”
Camerons first acted for RWE on its January 2009 nuclear joint venture with E.ON (TheLawyer.com, 15 January 2009) and on its purchase of a 70 per cent stake in the Breagh gas field.
Currier added: “In a pretty short space of time RWE has become an important client for us.”
Clifford Chance energy partner James Pay acted for SWM on the project, while Siemens turned to Watson Farley Williams partner Charles July.