Seagreen Phase 1 Marks Milestone Acquisition in Offshore Transmission
Deal News | Mar 13, 2025 | CMS Law
CMS Law has advised a consortium that includes global infrastructure investor Equitix, and energy companies Kyuden International Corporation and Kyushu Electric Power, on the acquisition of the Seagreen Phase 1 offshore transmission assets from Seagreen Wind Energy Limited. Located off the Angus coast in Scotland, Seagreen Phase 1 is Scotland's largest and the world's deepest fixed-bottom offshore windfarm. The transaction includes subsea export cables, onshore export cables, an offshore substation, and an onshore substation, which Equitix and Kyuden Group will own, operate, and maintain for a 24-year period under a transmission license granted by Ofgem. This acquisition strengthens Equitix's role in the UK's renewable energy sector as part of the country's net-zero strategy. CMS's team was led by Chris McGarvey, alongside specialists in energy, finance, real estate, planning, and corporate sectors.
Sectors
- Renewable Energy
- Infrastructure Investment
- Legal Advisory
Geography
- United Kingdom – The acquisition involves UK-based assets and plays a role in the UK's renewable energy strategy.
- Scotland – The Seagreen Phase 1 offshore wind farm is located off the coast of Scotland, making it significant to the region.
- Japan – Kyuden International Corporation and Kyushu Electric Power, part of the consortium, are based in Japan, highlighting their investment interests in the UK market.
Industry
- Renewable Energy – The article involves the acquisition of offshore wind transmission assets, highlighting the renewable energy industry, particularly wind energy.
- Infrastructure Investment – Equitix, a global infrastructure investor, is leading this acquisition, placing their role within the infrastructure investment industry.
- Legal Advisory – CMS Law's advisory role represents legal services provided in merger and acquisition transactions.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CMS Law | Legal Advisor | Company | Advised the consortium on the acquisition of transmission assets. |
| Equitix | Investor | Company | A global infrastructure investor involved in the acquisition of the wind farm's transmission assets. |
| Kyuden International Corporation | Investor | Company | Part of the consortium acquiring the transmission assets, marking its first UK electricity transmission investment. |
| Kyushu Electric Power | Investor | Company | Collaborates with Equitix and Kyuden International Corporation in the acquisition. |
| Seagreen Wind Energy Limited | Vendor | Company | Seller of the Seagreen Phase 1 offshore transmission assets. |