Offshore Wind
The offshore wind industry in Norway has the potential of becoming an important new industry and a strong contributor to the green shift. The Government has recently opened two areas for applications for offshore renewable energy production – Sørlige Nordsjø II and Utsira Nord. The Ministry of Petroleum and Energy has announced that a guide to the application process will be made available in the spring 2021.
The offshore wind regulations are new and untested, but have features in common with the regulations in both the Energy Act and the Petroleum Activities Act, which means that our long experience in these areas is useful. When it comes to structuring and financing projects, turbine contracts, energy outlets and grid connections there will, for example, be many parallels to onshore wind power. In other areas, especially related to contracts and challenges in relation to offshore production and installation, the parallels will primarily be to petroleum activities.
We are a full-service provider of legal advice to Norwegian and foreign players with interests in offshore wind. Our lawyers have extensive experience with the regulatory framework and the structuring of projects and contracts, both for onshore energy production and petroleum activities. We also have specific experience related to offshore wind in Norway. This breadth of experience and expertise puts us in a unique position to provide precise and efficient assistance to offshore wind projects.
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Our services
- Regulatory advice – including issues related to grid regulation, interface with the petroleum industry and onshore energy extraction, the Offshore Energy Act with regulations, the Energy Act, the Petroleum Activities Act and the Planning and Building Act
- Setup of company and project structures – including issues related to financing models, governance, cost sharing, risk profile
- Assistance in the development and upgrade phase – including negotiation and preparation of contracts for construction and deliveries, installation, operation and maintenance, as well as ongoing assistance in the project phase
- Assistance with loan agreements and guarantee facilities
- M&A
- Dispute resolution
- Subsidies and support schemes
- Taxation
Stellar practice active in transactional and regulatory mandates. Offers strength in wind farm and hydropower plant transactions, acquisitions of utility companies and mergers of grid operating businesses. Also handles project development matters, including financing and refinancing issues.