Clyde & Co has advised clean energy provider Fortum O&M (UK) Limited on its contract negotiations to operate and maintain the world's biggest biomass power station in the UK.

Clyde & Co assisted with negotiations on the operation and maintenance (O&M) agreement to operate the facility and associated documents.

The 299MW renewable energy plant will be based in Teesside in the North East of England and will be constructed by MGT Teesside.  Macquarie is the lead equity sponsor and financial advisor for the £650 million investment project.

"Clyde & Co partner, Clare Hatcher, comments: "We are delighted to have played a role in this landmark project for renewable energy. It reinforces Fortum's leadership in clean energy and the UK's commitment to the provision of renewable energy for the future and is a great boost for the North of England."

The Teesside plant is one of only eight schemes awarded an investment contract under the government's contracts for difference (CfD) scheme, which guarantees a preferential fixed price for energy.

The plant will burn around 1m tonnes of wood pellets a year generating enough power for 300,000 homes, although most of the energy will be used by the Teesside chemical industry cluster. The project is expected to create hundreds of jobs for the North East.

The Clyde & Co team included Clare Hatcher (Partner, London), Brett Hartley (Senior Associate, London), Thomas Chapple (Associate, London), and Owen Williams (Trainee, London).