Hogan Lovells is advising the Crown Estate on its upcoming offshore wind leasing round, the U.K.'s first in a decade.

Last week, the Crown Estate launched Offshore Wind Leasing Round 4 in a bid to give new seabed rights to offshore wind development around England and Wales.

The project plans to make four seabed areas available to the market in a tender process that will run from next month until autumn 2020, with new seabed rights awarded in 2021.

Upon completion, the project would provide more than six million homes with clean electricity across the U.K.

The team advising the Crown Estate is being led by London energy partner Alex Harrison and real estate partner Nicholas Roberts.

Hogan Lovells has been the exclusive adviser to the Crown Estate on offshore energy generation matters surrounding the U.K since 2017, according to one of the partners.

Alex Harrison, energy partner at Hogan Lovells, said: "Offshore Wind Leasing Round 4 represents a major new opportunity for offshore wind developers and investors at a time of new record low CfD prices for the technology.

"It is further evidence of the U.K.'s leading role in offshore wind and a critical step on the U.K.'s decarbonisation pathway."

Nicholas Roberts, real estate partner at Hogan Lovells, added: "We are delighted to represent our longstanding client The Crown Estate on this ambitious transition, which will serve to attract international investment while bringing us closer to a net-zero economy."

The news comes as prices for offshore wind farms fell last week, allowing developers to deploy projects at large scale and lower cost.

This further allows the U.K. to tackle climate change and come a step closer to its target of net-zero greenhouse gases by 2050.