Accelerating Growth in European Offshore Wind – in partnership with Orrick

Published by Tamarindo in partnership with Orrick.

Published February 13, 2024

Over the course of three special interviews, we’ve taken a trip around the globe to analyse the status of the offshore wind sector in three key regions; North America, Europe and Southeast Asia.

Jay Sarma, director at Glennmont Partners, joined us to talk about the economic headwinds facing European offshore wind, including the rising cost of capital, and how companies can take innovative business approaches to open up new markets and get deals done.

Orrick’s 2024 Global Offshore Wind Report

This year is set to be the busiest ever for offshore wind, with over 20 auction processes expected globally.

That’s just one of several factors in our review of offshore wind in more than 25 countries that provide reasons for optimism in the sector’s future despite challenges in the last year.

Read Orrick’s 2024 Global Offshore Wind Report

 

Adam Smith
Partner at Orrick

Adam is a project development and finance lawyer in the energy, infrastructure and natural resources sectors, advising on some of the most complex and high-value project development and financing matters – often cross-border renewable energy projects. Adam has extensive offshore wind experience in Europe and Asia. Most notably, he advised the lenders and hedge providers on the US$1.6 billion project financing of the 298MW Zhong Neng offshore wind farm in Taiwan, which is being constructed in a joint venture between China Steel Corporation and Copenhagen Infrastructure Partners (CIP), and the ECAs and syndicate of international and local commercial banks and life insurance companies on the US$3bn project financing of the Changfang and Xidao Taiwanese offshore wind project, also in Taiwan. In the UK and Europe, he has advised CIP on the sale of equity interest in the Beatrice offshore wind farm and AIP on the sale of PKA’s equity interest in the Burbo Bank Extension offshore wind farm, among many other projects.  In addition, Adam advises on the negotiation of corporate PPAs, including to advise both generators and offtakers in relation to offshore wind projects in the UK, the Netherlands and Taiwan.

 

Jay Sarma
Director at Glennmont Partners

Jay is a Director at Glennmont Partners from Nuveen, having joined the business in 2017. He leads on offshore wind sector investments within the investment team and brings c.15 years of infrastructure sector experience with over a decade of renewable energy sector experience having operated both as an M&A advisor and equity investor. Jay has led numerous investments and M&A transactions across Europe, the UK, and the Australian market. More recently in 2023, this includes Glennmont’s offshore wind investments in Blauwwind, Hexicon, and the recently signed Gode Wind 3 project.

 

Learn about growing trends and what’s next in Orrick’s 2024 Global Offshore Wind Report.

Watch this video

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