Norton Rose advises on the Britned interconnector between UK and Netherlands
12 June 2007
Norton Rose acted for BritNed Development Limited on the construction contracts for a 1GW electricity interconnector that is to be built between the UK and the Netherlands. The interconnector has been a priority project within the European power sector. It will be a fully commercial or “non-socialised” venture and bids for (and flow of) capacity will be directly linked to the respective demand profiles and prices of electricity in the UK and the Netherlands.
BritNed Development Limited is a joint venture between National Grid of the UK and TenneT Holding of the Netherlands. The interconnector will be a bi-pole high voltage direct current interconnector consisting of sub-sea cable of approximately 260 km and converter stations on the Isle of Grain in the UK and Maasvlakte in the Netherlands. The contracts for the subsea cable and the converter stations were awarded to ABB Sweden and Siemens on 21 May 2007. The total investment is approximately €600 million and the interconnector is due to start operations in late 2010.
The Norton Rose team on the construction contracts was led by partner Richard Hill, who was assisted by Kevin Taylaur and Sarah Fuller. Mark Jones and Totis Kotsonis provided competition and procurement advice, Wasim Khan and Leah Willman advised on property, Alan Crookes and Esther Clothier advised on the shareholders agreement and Simon Currie, John Wood and Richard Metcalf continue to advise on trading aspects and crossing agreements.
ABB were advised in-house by Ake Nilsson and Siemens were advised in-house by Thomas Buehrmann and Charlotte O’Shea.
For further information please contact:
Stuart Lennon, public relations manager
+44(0)20 7444 3838 stuart.lennon@nortonrose.com
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