WFW Advises Acquisition of 50% stake in 659 MW Walney Extension OWF

International law firm Watson Farley & Williams (“WFW”) has advised institutional investors on the long-term financing for the acquisition of a 50% stake in the 659 MW Walney Extension offshore wind farm.

Leading Danish pension funds PKA and PFA have each acquired a 25% ownership interest from Ørsted (formerly known as DONG Energy) in the deal which is valued at £2bn, of which £1.3bn is being funded through the issuance of an investment-grade bond. The deal has received regulatory approval from relevant competition authorities and completed on 10 November 2017. WFW advised in relation to financing, construction, operations and maintenance and power purchase arrangements, and also acted: for RBS and MUFG among others as lenders in... ... More: Official Press Release WFW

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WFW, pension fund, adviser, law firm, offshore, Walney Extension