Travers Smith has advised a consortium of lenders on the refinancing of the Westermost Rough Offshore Wind Farm, a 210 MW offshore wind asset located off the coast of Yorkshire. The facility was successfully refinanced on competitive terms, reflecting current market conditions and significant appetite from the lending market for high-quality renewables assets.
Independent shareholders in the borrower, who together control a 50% stake in the underlying asset, include leading renewable energy infrastructure developers and asset managers, such as Equitix and Arjun Infrastructure Partners. The refinancing enables the Westermost Rough Offshore Wind Farm to optimise its capital structure and continue its critical role in supporting the UK’s clean energy transition.
Energy & Infrastructure Finance Partner Ryan Ayrton commented: "We are delighted to have advised the lender consortium on this refinancing, which reflects the ongoing lender appetite for best-in-class renewable energy assets. The Westermost Rough Offshore Wind Farm remains integral to the UK’s clean energy transition, and we are proud to support long-term investment in projects of this significance."
The Travers Smith team was led by Energy & Infrastructure Finance Partner Ryan Ayrton, with support from Associates James O'Neill and Ailsa Davies and Trainee Solicitor Scarlett Cameron-Faulkner. Hedging advice was provided by Partner Jonathan Gilmour, with support from Associates Tom Purkiss and Sonia Gandhi and Trainee Solicitor Hari Rattan. Partner Jonathan Walters led on due diligence and specialist regulatory advice was provided by Partner John Buttanshaw.
