Norton Rose Fulbright
has been advising on the world’s first tidal lagoon power station in the U.K.
The Swansea Bay tidal lagoon project was recently backed by a review by former energy minister Charles Hendry, who said the £1.3 billion project was a “no regrets option.”
Companies are preparing to bid on jobs for the large project, which is designed to have an installed capacity of 320MW and generate enough energy to power 155,000 homes.
NRF says it has been advising Tidal Lagoon Power on multiple aspects of the Swansea Bay project since 2013.
The international law firm’s corporate team, led by partner Stephen Rigby, has advised on structuring and equity investment work, including institutional investment from infrastructure investors Infracapital (Prudential) and InfraRed, and continues to provide ongoing corporate advice.
The firm’s construction team, led by partner Nick Pincott, is also advising on the ongoing procurement and negotiation of construction and O&M arrangements.
“Our involvement with Tidal Lagoon Power is long lasting, and our team is broad,” the law firm said in its confirmation of its role on the project.
Partners Deirdre Walker, Peter Scott, Matthew Findley, Neil Biswas, Andrew Hedges and Simon Ramsden have all worked on matters for Tidal Lagoon Power, it said.
The teams advising on the matter also includes senior associates Keith Law, Katie Liszka together with associates James Chester-Master, Eleanor Cochrane, Liron Cohen, Miriam Jones, Michael Poole, Brendan Ryan and Katharine Young, of counsels Tim Baines and Nick Howard and consultant Joosje Hamilton.
“This is a market-leading project and a major opportunity for “UK plc”, both in terms of its potential to contribute to the UK energy mix, but also for its export potential to other markets,” Pincott said. “This report and its recommendation are a very large step towards bringing the project to fruition.”
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