CMS has advised SSE plc (“SSE”) on the signing of agreements for the disposal of 49.9% of its operational 349.6MW Clyde Wind Farm to Greencoat UK Wind Plc (“UKW”) and GMPF & LPFA Infrastructure LLP (“GLIL”), a partnership between the Greater Manchester Pension Fund and the London Pensions Fund Authority, for a headline consideration of £355m.

An extension to the Clyde Wind Farm is currently under construction and, once completed, will increase the capacity of the Wind Farm to 522.4MW.

The disposal of a stake in the Clyde Wind Farm, located in South Lanarkshire, Scotland, marks a key milestone in SSE’s established programme of asset disposals, announced in March 2014, taking SSE beyond its £1bn target and releasing further capital to support future investment.
The CMS team was led by London partners Doug Land and Charles Currier and involved a large team spread across CMS’ London, Glasgow, Edinburgh and Aberdeen offices.

Commenting on the transaction, Doug Land said:

“We are very pleased to have assisted SSE’s in-house legal team to deliver this strategic transaction, which forms part of SSE’s high profile asset disposal programme. CMS is consistently ranked as a top tier law firm in respect of renewable energy transactions and, with a significant presence in both Scotland and London, we are particularly well placed to advise on renewable energy transactions involving Scotland”

Lawyer(s)
Doug Land, Charles Currier