A&O advises on GBP140m investment in North Star renewables fleet
07 December 2022
Allen & Overy has advised North Star, which is owned by Partners Group, on a new GBP140m financing package to build the next wave of its renewables fleet. The investment supports the next phase of North Star’s ambitious offshore wind growth plan.
North Star is the UK’s leading service operations vessel (SOV) operator and has been operating in the North Sea for 135 years. This investment will support the ongoing growth of North Star’s SOV fleet and operations in the UK and European offshore wind market.
The investment includes a GBP50 million from the Scottish National Investment Bank, an investment that aligns with its mission to support Scotland’s transition to Net Zero.
Partner Ed Moser commented: “We are delighted to have advised North Star and Partners Group on this significant transaction that will support North Star’s next phase of growth in supporting the expansion of the European offshore wind market. Assisting our clients as they navigate the challenges and opportunities posed by decarbonisation is a strategic priority of the firm. Investments such as these help to address the shortfall in renewable infrastructure and provide critical infrastructure support services to further decarbonisation efforts across Europe.”
The team in London was led by partner Ed Moser and supported by senior associate Alexandra Page and associates Rhushub Bidd, Rachel Coffey and Will Chuter.