AIP’s Sale of PKA’s Interest in Burbo Bank Extension

In UK Orrick Herrington & Sutcliffe LLP, advised on the matter.

Orrick Herrington & Sutcliffe LLP advised AIP Management P/S with a team including Douglas Lahnborg (Competition Law), Simon Alsey (Energy & Infrastructures), Evan Stergoulis (Picture – Energy & Infrastructures), Jonathan Rosen (Tax M&A and Deal Advisory).

AIP Management P/S (AIP) announced the sale of PKA’s 25% equity interest in the Burbo Bank Extension offshore wind farm (BBE) to Greencoat Renewables PLC (on behalf of Greencoat UK Wind PLC and Greencoat Renewable Income LP) for a price of approximately £400 million. Greencoat will join Ørsted (50%) and KIRKBI (25%) as shareholders.

BBE is a 258MW offshore wind farm on the Burbo Flats in Liverpool Bay at the entrance to the River Mersey, approximately 7 km (4.3 miles) north of the North Wirral coast near the village of Meols.

The Orrick team advising AIP on the equity disposal was led by Evan Stergoulis (Picture), closely supported by Simon Alsey, Nicholas Connell and David O’Donovan with additional support from Rebecca Downes and Junaid O’Balogun. Douglas Lahnborg and Matthew Rose advised on competition matters, and Jonathan Rosen and Bridget Winters advised on tax.

Involved fees earner: Simon Alsey – Orrick Herrington & Sutcliffe LLP; Nicholas Connell – Orrick Herrington & Sutcliffe LLP; Rebecca Downes – Orrick Herrington & Sutcliffe LLP; Douglas Lahnborg – Orrick Herrington & Sutcliffe LLP; David O’Donovan – Orrick Herrington & Sutcliffe LLP; Matthew Rose – Orrick Herrington & Sutcliffe LLP; Jonathan Rosen – Orrick Herrington & Sutcliffe LLP; Evan Stergoulis – Orrick Herrington & Sutcliffe LLP; Bridget Winters – Orrick Herrington & Sutcliffe LLP;

Law Firms: Orrick Herrington & Sutcliffe LLP;

Clients: AIP Management P/S;

Author: Giulia Di Palma