Magic Circle Duo Act Alongside US Giant in £1.6B Energy Deal
Spanish energy giant Iberdrola is selling a 40% stake in a North Sea wind farm to the Green Investment Group.
August 15, 2019 at 06:55 AM
2 minute read
Wind Farm – Credits: Bloomberg
Linklaters, Clifford Chance and Latham & Watkins are advising on the sale of a stake in a North Sea offshore wind project to the Green Investment Group.
Spanish energy giant Iberdrola, which owns Scottish Power, is selling a 40% stake in the as-yet incomplete East Anglia One site – which it values at more than £1.6 billion – to Macquarie-owned Green Investment Group (GIG), the company announced earlier this week.
Linklaters is advising the GIG, with a team led by energy and infrastructure partners Ross Schloeffel and Richard Ginks. The firm previously advised Scottish Power in 2006 when it was acquired by Iberdrola.
Meanwhile, Iberdrola turned to both CC and Latham & Watkins.
Latham's team, led by private equity partner Brendan Moylan and corporate partner Simon Tysoe, is advising the company on the shareholder aspects of the deal.
CC partner James Pay is leading the Magic Circle firm's team, according to a person involved in the deal, advising Iberdrola on the construction and project finance arrangements behind the transaction.
CC previously advised Scottish Power in a £702 million deal that resulted in the company becoming fully wind-operated. Scottish Power has in the past also turned to Freshfields Bruckhaus Deringer for much of its work.
East Anglia One is, according to Iberdrola, the largest-ever renewable energy project undertaken by a Spanish company, with the site valued at more than £4 billion. It is anticipated the site will provide clean energy to about 600,000 homes across the U.K. by 2020.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Deacons Hires Reed Smith’s Banking Partner in Hong Kong
Amazon Corporate Counsel in Brussels Returns to US Firm in ‘Boomerang Hire’
2 minute readTrending Stories
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
