Extensive and long-standing expertise in the Renewables sector
Wide-spread deployment of renewables and energy storage and is crucial for the energy transition needed to deliver global decarbonisation targets, with wide-ranging implications for markets, projects and corporate strategies.
Our experience, in the UK and internationally, covers a broad spectrum of renewable technologies including wind, solar PV, biomass, energy from waste, hydro-power, pumped-storage, battery storage and green hydrogen. We regularly act for a range of market participants including utilities, independent power producers, project sponsors, investors, listed funds, financial institutions and governments.
We have a deep understanding of the global renewables industry and regularly work on market shaping mandates. We advised the UK government on its Electricity Market Reform programme and the development of the Contract for Difference regime for renewable power projects which has been a catalyst for the growth of the sector.
We have decades of experience in offshore wind. We acted on the first ever project financing of an offshore wind farm in construction for Centrica. We act for Ørsted a number of their significant UK and international offshore wind projects, including the structuring the first ever HoldCo financing of an offshore wind farm. Our offshore wind work with Ørsted won European Renewables Deal of the Year at the PFI Awards.
Corporates also are increasingly considering energy procurement in the context of their decarbonisation strategies. We have worked on corporate decarbonisation strategies, including structuring corporate renewable power purchase agreements and to deliver onsite energy solutions, including electricity storage.
We frequently work on international power and renewables transactions, leveraging our international network. We are active partners of the Energy Law Group, the most extensive network of experts in energy law in Europe, the Middle East and Africa (ranked Band 1 in Chambers Global for Energy & Projects in 2024).
Key experience
We act on a range of matters including M&A, joint venture arrangements, tax, dispute resolution, financing, all aspects of project development, offtake, commodity trading and services arrangements, construction and O&M, decommissioning, real estate, environment, planning and consents as well as regulatory advice (including competition, state aid and with respect to subsidies).
Arsenal FC
We assisted Arsenal on the development of a battery storage project with Pivot Power at the Emirates Stadium.
BlackRock
We advised BlackRock Real Assets on its consortium investment in Tata Power Renewable Energy Limited, one of the largest renewable energy companies in India with approximately 4.9GW of renewable energy assets (including utility and rooftop solar assets and wind power projects).
We also advised BlackRock’s Diversified Infrastructure group (“BlackRock”) on its investment of up to USD400 million in Positive Zero Limited (“Positive Zero”), a UAE-based decentralised decarbonisation infrastructure business formed from the merger of solar company SirajPower, energy efficiency services firm Taka Solutions and on-demand battery business HYPR Energy.
China Power
We advised China Power International Development Limited (China Power) on its acquisition of majority interests in five clean energy project companies (the Target Companies) from State Power Investment Corporation Limited (SPIC), State Power Investment Corporation Limited Guangdong Power Co., Ltd. (SPIC Guangdong) and China Power Complete Equipment Co., Ltd (CPCEC) (wholly-owned subsidiaries of SPIC, an indirect controlling shareholder of China Power), for a total consideration in cash of approximately RMB10.8 billion (US$1.5 billion). China Power is a longstanding client of Slaughter and May which also advised on its USD1.1 billion acquisition of clean energy assets in 2022 and various landmark corporate finance and capital market transactions over the years.
Deep Wind Offshore
We advised Deep Wind Offshore on the sale to bp of a 55% interest in its portfolio of four offshore wind development projects in South Korea, with a potential generating capacity of up to 6GW, and associated joint venture and services arrangements.
Hyphen Hydrogen Energy
We are acting as lead global counsel to Hyphen Hydrogen Energy on the multi-billion US dollar structuring and development of a vertically integrated large scale green hydrogen project in Namibia including renewable generation, water desalination, electrolysis, hydrogen and ammonia production, storage, transport and shipping, and associated grid and port infrastructure.
Marubeni
We advised Marubeni Europower Limited on Marubeni’s acquisition of the Upper Ogmore Wind Farm and energy storage project from RES. Located near Blaengarw and Nant-y-Moel in Bridgend, the Upper Ogmore project will comprise 7 turbines and an energy storage system, and will deliver 25MW of clean, secure electricity to thousands of homes. The project represents Marubeni’s first UK onshore wind project, and forms part of Marubeni’s strategic commitment to developments in Wales.
We are also advising Marubeni Europower in relation to all aspects its first green hydrogen project in the UK in partnership with Bridgend County Borough Council, including the EPC, Government support, hydrogen offtake, power purchase and joint venture arrangements.
Octopus Renewables
We advised Octopus Renewables on its purchase of a minority stake in Exagen Group Limited and a joint venture in relation to solar PV and battery storage assets in the UK.
Ørsted
We have a longstanding role as one of Ørsted’s closest relationship firms, having advised for over a decade on its most significant (and some of the world’s largest) renewables projects and transactions in both the UK and abroad, including the Race Bank, Walney Extension, Hornsea and Borssele offshore wind farms.
Schroders plc
We advised Schroders plc on all aspects of its acquisition of a 75% stake in Greencoat Capital Holdings Limited, a specialist investment manager focussing on renewable energy investing, with £6.7 billion of assets under management at 30 November 2021. Greencoat operates nearly 200 power generation assets across the UK, Europe and the US, with an aggregate net generation capacity of over 3 gigawatts.
UK Infrastructure Bank
We advised the UK Infrastructure Bank (UKIB) in relation to a £60 million loan to support Pacific Green in its development of a new 249 MW / 373.5 MWh electricity storage park in Kent. This was part of a £120 million debt package alongside NatWest to enable the construction of the short duration battery storage facility, providing a significant boost to grid stability and contributing to the UK’s energy security. The Sheaf Energy Park will be one of the largest standalone battery storage projects in the country when it is completed.
The investment strongly aligns with UKIB’s net zero mandate, helping to provide the energy storage necessary to support the rapid scale up of renewables.
