Burness Paull, alongside Norton Rose Fulbright, has advised the 22-bank lending syndicate in relation to the £3.5billion financing of the Inch Cape Offshore Wind Farm (a 1.1 gigawatt offshore wind farm off the east coast of Scotland), which has reached financial close.
The financing involved diligence in a number of areas together with input on the finance and security documents.
Inch Cape is a significant project (being developed as a joint venture between Red Rock Renewables and ESB) and one that has been many years in the making. It will contribute to the UK’s energy security and emissions reduction goals, and provide economic benefits through local supplier engagement.
The Burness Paull team comprised Alan Cassels, Sophie Coffey, Nathalie Fraser and Natalie Orr on the banking side; Neil Bruce, Marianne Wilson, Michaela Moore and Ashley Flanagan on energy and real estate; Emma Paton and Emma Dewar on consenting; and David Sharkey and Andrew Little advising from a ports and harbours perspective.
This project marks a further Scottish offshore wind project where we have acted on lender side in the financing, with the firm having been involved in all major offshore wind financings in Scotland in the last 10 years.
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