Hogan Lovells advises Fluor on Seagreen offshore wind sale to SSE

Hogan Lovells has advised Fluor on the sale to SSE of Fluor's 50% stake in the Seagreen offshore wind farm projects under development by Seagreen Wind Energy Limited. SSE is Fluor's existing 50% co-shareholder in Seagreen and will now take full ownership of the joint venture.

Located in Scottish waters, in the outer Firth of Forth and Firth of Tay, the Seagreen projects have the potential to provide a significant contribution to Scotland’s renewable energy generation capacity and helping to meet Scotland and the UK’s ambitious renewable energy targets

Seagreen Phase 1, consisting of the "Alpha" and "Bravo" projects, is currently seeking amendments to its existing consent to take advantage of the advances in offshore wind turbine technology since the original consent was granted back in 2014. The new proposal would see fewer, larger, higher capacity wind turbines and the inclusion of monopiles as a foundation option. A maximum of 120 turbines would be developed across the Alpha and Bravo areas with a potential capacity of approximately 1,500MW. This would provide enough energy to provide enough power for at least 670,000 homes.

The Hogan Lovells team was led by Alex Harrison (energy partner) with support from Suzanne Hill (tax senior associate), Megan Chamberlain (energy associate), Ben Fleet (energy associate) and Alice Norbury (trainee).

Energy partner Alex Harrison commented: 

"We are delighted to have supported Fluor on this strategically important transaction at a buoyant time for the UK offshore wind market with the next CfD auction scheduled for May 2019 and industry's ambition for 30 GW of offshore wind capacity to be deployed or contracted in the UK by 2030."

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