Osborne Clarke has advised Daiwa Energy & Infrastructure on the acquisition of Moray East OFTO

International legal practice Osborne Clarke has advised Daiwa Energy & Infrastructure Co. Ltd. (DEI) on its agreement to acquire a 49% equity interest in Moray East OFTO, an offshore transmission owner (OFTO) in the United Kingdom, from International Public Partnerships Limited (INPP), a UK-listed infrastructure investment company.

Moray East OFTO owns and operates the offshore electricity transmission assets connecting the 950MW Moray East Offshore Wind Farm, located 22km off the Caithness coast in the outer Moray Firth, to the National Grid. The transmission assets include onshore and offshore substations and approximately 285km of subsea and onshore cables. Moray East OFTO plays a key role in transmitting power equivalent to the electricity needs of around one million UK homes and supports the UK’s transition to net zero.

“DEI’s investment in Moray East OFTO highlights the continued depth and attractiveness of the UK’s offshore transmission regime for long-term international capital. This transaction brings together high-quality renewables infrastructure, a strong regulatory framework and a committed investor focused on supporting the UK’s net-zero transition. It has been a privilege to support DEI on a strategically important transaction in the UK energy market.” 

Matt Lewy, Partner, Osborne Clarke

The team at Osborne Clarke was led by Partner, Matt Lewy (Corporate), with support from Senior Associate, Ben Parker (Corporate), Associate, Tim Rouse (Corporate), Associate, Luke Webb (Regulatory), Associate Director, Grahame Fischer (Finance), Senior Associate, Lucy Gillespie (Finance), Partner, Duncan Parker (Construction) and Associate, Verena Bilo (Construction).