Addleshaw Goddard has recently advised SSE plc (SSE) on the sale of part of its interest in a major offshore wind farm project to a Danish Infrastructure Fund, Copenhagen Infrastructure Partners.

The 664MW offshore wind farm project, Beatrice, is in the Outer Moray Firth region in Scottish territorial waters. It was originally awarded by The Crown Estate in 2009 to a JV comprising SSE (75%) and Sea Energy Renewables (now owned by Repsol) (25%). Under the current transaction, SSE will sell a 25% interest to funds managed by Copenhagen Infrastructure Partners and will retain a 50% interest.

The Project was granted consent earlier this year, and was also awarded an early investment contract (under the new CfD regime) by the Department of Energy and Climate Change in April 2014. Engineering and procurement work is progressing with a view to achieving a final investment decision to proceed to the Construction Phase early in 2016.

The Addleshaw Goddard team, which supported the SSE Legal team led by Paul Murphy, was led by energy partners Angus Rollo and Guy Winter and included Managing Associates Tony Berry and Karen Orr and Associate Shasicca Nava. The deal follows Addleshaw Goddard's appointment to SSE's Panel earlier in 2014, with Head of Energy Richard Goodfellow and Partner John Emerton leading the relationship.

Angus Rollo, Partner, commenting on the deal said:

"This is an important deal for our client and we are delighted to have had the opportunity to work closely with the SSE Legal team on it. Beatrice is a key focus of SSE's offshore wind portfolio and this transaction enables SSE to move the project onto the next stage of development. We anticipate an increasing number of secondary sales in the offshore wind market as developers look to share risk."