04/07/2021 | Press release | Distributed by Public on 04/08/2021 05:35
Slaughter and May advised Ørsted on its proposed disposal of a 50% interest in the 752 MW Borssele 1 & 2 Offshore Wind Farm to Norges Bank Investment Management (NBIM).
The Borssele 1 & 2 Offshore Wind Farm lies 23km off the coast of Zeeland in the Netherlands. It was commissioned in Q4 2020 and is the largest operational offshore wind farm in the Netherlands and the second largest operational offshore wind farm in the world, generating green power in an amount equivalent to one million Dutch households' annual power consumption.
The total value of the transaction is approximately EUR 1.375 billion.
The divestment to NBIM is subject to regulatory approvals. Closing is expected around summer 2021.
Slaughter and May worked as an integrated team with De Brauw Blackstone Westbroek, who advised Ørsted on matters of Dutch law.
Mary Kiernan / Trainee