Linklaters has advised the borrower on the third phase of the Dogger Bank Offshore Wind Farm, owned by joint venture partners SSE Renewables and Equinor.
The deal follows Linklaters’ role advising on the construction, development and £5.5b project financing of the previous two Dogger Bank phases, which reached financial close in November 2020.
It revealed Dogger Bank will be the “largest” offshore wind farm in the world once all three phases are complete in March 2026.
The debt financing for Dogger Bank is being provided by 28 banks and three export credit agencies, namely Bpifrance, EKN, The Swedish Export Credit Agency and Export Finance Norway (Eksfin).
In total, the firm said Dogger Bank will produce enough clean, renewable electricity to supply 5% of the UK’s demand, equivalent to powering six million UK homes.
The Linklaters team was led by partners Richard Coar, John Pickett and Francesca Matthews, with “key” team members included managing associate Albert Yu and associates Anthony Tridgell, Joowon Lee and Carina Chan.
Francesca Matthews, energy and infrastructure partner, said: “We are delighted to have supported the third phase of the Dogger Bank Offshore Wind Farm. This project is an important step on the road to net zero for the UK and the Prime Minister’s ambitions to deliver 40GW of offshore wind by 2030.
“The role of offshore wind in the global energy transition cannot be understated. We look forward to continuing our work on these types of transformational deals in the years ahead around the world.”