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European law firm Fieldfisher has advised Simply Blue Energy, a pioneering Celtic Sea energy developer, on a joint venture agreement with Total, one of the world’s largest energy companies, to develop floating wind projects in the Welsh waters of the Celtic Sea.
The first development will be Erebus, a 96MW demonstration project at water depths of 70 metres, for which an application has been submitted to the Crown Estate.
The project will be developed to use Principle Power’s Windfloat® technology, one of the most advanced floating technologies worldwide.
This new partnership between Total and Simply Blue Energy opens a new chapter in the development of renewable energy in the UK.
Developing the potential of the Celtic Sea will make a positive contribution to the UK’s target of reaching ‘Net Zero’ by 2050, while offering exciting new opportunities for industry in areas such as Wales and Cornwall.
Simply Blue Energy, which is based in Co. Cork, Ireland, has established an office in Pembroke to work with the local supply chain on the opportunities created by this project.
Fieldfisher's Dublin team, assisted by colleagues from the firm's London office, advised Simply Blue on all aspects of the transaction.
Feilim O’Caoimh, partner, and Head of Corporate and Renewable Energy at Fieldfisher Ireland said:
“We are thrilled to have been part of this revolutionary project which marks an important new step for renewable energy generation in the UK and Ireland.
“Floating wind technology is still in the early stages of adoption in these markets, but for many it is the next frontier.
“The advantage of floating wind farms is that they are able to benefit from offshore wind speeds which are typically faster and steadier than on land, without many of the attendant construction and maintenance challenges associated with building fixed offshore structures.
“In these uncertain times, it is particularly rewarding to be able to deliver some positive news and we look forward to working on further innovative deals as part of the energy transition, including through and beyond the current COVID-19 crisis.”
About Fieldfisher
Fieldfisher is an enterprising European law firm built around people. We have market-leading practices in our four key sectors of energy and natural resources, technology, financial services and life sciences.
We have been active in energy and natural resources for over 50 years.
Our specialist lawyers offer a full service practice with expertise in oil and gas, conventional power, renewables, mining and energy commodities. We also bring market-leading cross-sector capabilities at the nexus between energy and new technology.
Our network spans over 1500 people across 25 international offices, all of which offer clients highly commercial, pragmatic advice.
We are based in Belgium, China, France, Germany, Italy, Luxembourg, the Netherlands, Ireland, Spain, the UK and the US.