David O'Donovan

Associate

London

David advises clients on a range of domestic and international transactions in the energy sector.

David's experience primarily includes renewable energy projects (onshore and offshore wind, solar PV and biomass) with a particular focus on mergers and acquisitions, project finance and restructuring. He also has experience working on ESG-related matters.

    • Advising OX2 on the sale of a 49% stake in three development stage offshore wind projects in Sweden to Ingka Investments. The projects – Galatea-Galene, located off the coast of Halland, Triton, located off the coast of Skåne and Aurora, located off the coast of Gotland and Öland – have the potential to reach an aggregate installed capacity of 9 GW and to produce up to 38 TWh combined, once operational, corresponding to more than 25% of the electricity consumed in Sweden in 2021.
    • Advising Sustainable Development Capital LLP on its agreement to acquire the entire issued share capital of United Renewable Energy Limited (‘UURE’) from United Utilities Group for approximately £100 million. UURE is the owner of a portfolio of 70 operational renewable energy assets comprising (i) ground mounted, rooftop and floating solar projects, (ii) onshore wind, and (iii) a hydro-electric project which provide renewable energy generated on-site directly to the end-user, United Utilities Water Limited, to provide power to critical water infrastructure.
    • Advising Copenhagen Infrastructure Partners (CIP) on its partnership with Bute Energy (Bute). As part of the transaction, CIP’s flagship fund Copenhagen Infrastructure IV K/S will invest in Bute’s portfolio of onshore wind farms and solar PV projects, some with co-located battery energy storage systems, under development in Wales, UK. The Bute portfolio consists of projects at various stages of development and is expected to have a total installed capacity of over 2GW by 2030.
    • Advising Copenhagen Infrastructure Partners on the sale of 100% of its 49% interest in a joint venture with Falck Renewables S.p.A. comprising an operational onshore wind portfolio in Scotland and Wales to Infrastructure Investment Fund, an infrastructure fund advised by J.P. Morgan Asset Management.
    • Advising the lenders and hedge providers on the $1.6 billion project financing of the 298MW Zhong Neng offshore wind farm in Taiwan.
    • Advising AIP Management on the sale of PKA’s 25% stake in the Burbo Bank Extension offshore wind farm to Greencoat for approximately £400 million.
    • Advising BlackRock’s Global Renewable Power platform on its membership of the NextGen consortium together with Quaybridge Scotland Ltd, Parkwind NV, Maple Power Ltd and Sumitomo Corporation. The NextGen consortium has participated in the Crown Estate Scotland’s ScotWind leasing process.
    • Advising a lending syndicate consisting of HSBC, Investec, ING and Intesa Sanpaolo on SDCL Energy Efficiency Income Trust plc’s (SEEIT) £145 million secured multicurrency revolving credit facility, which also included an uncommitted accordion of £55 million.
    • Advising Ørsted Onshore A/S on its agreement to acquire Brookfield Renewable’s Irish and UK onshore wind business. The agreement is based on an enterprise valuation of EUR 571 million as of 31 December 2020 (subject to customary adjustments) and marks Ørsted’s entry into the European onshore market. With the acquisition, Ørsted acquired one of Europe’s leading integrated renewable energy platforms, including 389MW under construction and in operation, 149MW in advanced development and more than a 1 GW development pipeline in Ireland and the UK.
    • Advising Hornsea 1 Limited, a joint venture owned between Ørsted (50%) and Global Infrastructure Partners (50%), on its £1.175 billion sale of its transmission assets to Diamond Transmission Partners Hornsea One Limited. DTP Hornsea One is a partnership between Diamond Transmission Corporation Limited (a wholly owned subsidiary of Mitsubishi Corporation) and Chubu Electric Power Company Netherlands B.V. (a wholly owned subsidiary of Chubu Electric Power Co., Inc.).
    • Advising Copenhagen Infrastructure Partners on the sale of its 35% equity interest in the Beatrice offshore wind farm to The Renewables Infrastructure Group Limited (TRIG) and to funds managed by Equitix Management Limited (Equitix).
    • Advising NextEnergy on the EPC and O&M arrangements in relation to the development of a UK-based solar portfolio on sites owned by a major water utility company.
    • Advising Conrad Energy on the acquisition of various projects as part of the expansion of its UK battery and gas-fired peaking plant portfolios.