WFW Advises on Race Bank Wind Farm Deal
Watson Farley & Williams (WFW), an international law firm based in London, said that it has advised Race Bank Wind Farm Limited on its USD 608 million sale of transmission system assets relating to the 573 MW Race Bank offshore wind farm to Diamond Transmission Partners.Race Bank is a joint venture owned by Ørsted (50%), Macquarie European Infrastructure Fund 5 (25%), a fund established by Sumitomo Corporation, Sumitomo Mitsui Banking Corporation and Development Bank of Japan (12.5%), and Arjun Infrastructure Partners and Gravis Capital Management (12.5%).Diamond Transmission Partners is a 50/50 partnership between Diamond Transmission…
L&T Wins Orders for Six Ships
L&T Construction has won new orders worth `1471 crores across various business segments in November & December 2013. In Power Transmission & Distribution Business, orders valued `686 crores have been received in both domestic & international markets. A major international order was bagged by Larsen & Toubro Saudi Arabia LLC, a fully owned subsidiary of Larsen & Toubro Limited for construction of a 132 kV transmission line and connection of Al-Dawadmi S/S to the 132 kV Riyadh Network. The order includes construction of a 78 km new 132 kV Double Circuit Overhead Transmission Line; 7 km of reconductoring an existing 132 kV OHTL with Special Non-Gap Conductors of high current carrying capacity…
London Array Offshore Windfarm Asset Disposal
DONG Energy A/S London Array, a joint venture owned by DONG Energy (50%), E.ON (30%) and Masdar (20%), have announced an agreement for the sale of transmission assets at the world’s largest offshore wind farm to Blue Transmission London Array Limited. London Array Wind Farm is located around 20 km off the coasts of Kent and Essex on a 100km2 site. Its 175 Siemens 3.6MW turbines have a combined capacity of 630MW and are expected to produce enough electricity to power over half a million UK homes each year. The divestment takes place pursuant to the Offshore Transmission Owner (OFTO) regime. Following a competitive tender, Blue Transmission London Array Limited was in September 2012 selected by Ofgem as preferred bidder for the London Array offshore transmission licence.
