International law firm Ashurst has advised Kansai Electric Power Company on its agreement to acquire a 16 percent stake in the approx. 860 MW Triton Knoll offshore wind farm. The project was one of three offshore wind projects awarded a 15 year contract for difference (CfD) last October and is being developed by Innogy who are retaining a majority stake. Innogy has also agreed to sell 25 percent to another investor.

The Ashurst team was led by renewables partner David Wadham, with support from corporate partner Tara Waters on the M&A aspects, senior associate Pete Grayson, associates Dallan Pitman, Elle Hansen and James Powell. Property and planning support was provided by associate Brian Cheung and legal manager Ian Lobo.

Commenting on the transaction, David Wadham said:

“We are delighted to have advised Kansai on this strategically important transaction. Offshore wind is playing an increasingly important role in the UK electricity sector and other countries including Japan are now looking to develop large scale offshore wind projects.”

Ashurst is also advising the funders on the 950 MW Moray Firth offshore wind project, also awarded a CfD last October.