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Eversheds Sutherland advise TEPCO Power Grid on the Stock Purchase Agreement to participate in the first ever UK-Germany Power Link

  • United Kingdom
  • Germany

    05-12-2022

    Eversheds Sutherland has advised TEPCO Power Grid on the Stock Purchase Agreement to participate in the first ever UK-Germany Power Link.

    The 1.4GW NeuConnect Interconnector Project will enable the UK and Germany to flexibly exchange power from diverse renewable generation sources with fluctuating output, such as wind and solar, and accelerate the spread of renewable energies.

    This project will have two new HVDC converter stations built on the Isle of Grain in eastern England and in Wilhelmshaven, in northern Germany, connected by over 700km of subsea cables.

    The multi-disciplinary international Eversheds Sutherland team advising TEPCO was led by Corporate Partner Stephen Hill and Construction Partner Richard Streeter. Stephen Hill, International head of Clean Energy at Eversheds Sutherland said,

    “The NeuConnect Interconnector Project will make a significant contribution to enhancing energy resilience and energy security in both countries as it will aid the exchange of power. With winter on the horizon in the Northern Hemisphere, this could not have come at a better time.”

    Richard Streeter commented:

    “We were delighted to support TEPCO in this strategic acquisition in the European interconnector market and look forward to working with TEPCO going forward as NeuConnect moves into construction and ultimately operation.”

    The NeuConnect Interconnector Project will be the second global power transmission business investment for TEPCO PG following the Triton Knoll offshore electricity transmission project, which was announced in November 2021.

    Martin Weitenberg commented:

    “It is exciting to see that our client TEPCO joined the NeuConnect Project which will be implemented on the basis of a new regulatory framework for stand-alone interconnectors in Germany and is expected to contribute to the energy transition in both, Germany and the UK.”

    Our team was supported by Stephen Hill, Martin Weitenberg, Richard Streeter, Ray Hetherington, Simon Davies, Ben Brown, Holly Suthren, Alice Bushell, Sophie Lowe, Lauren Chamberlain, Charlie Markillie, Karen Mutton, Philipp Buesch, Hizir Aydogdu, James Trafford, and Natascha Geraedts.

    Stephen Hill, Partner
    Dr. Martin Weitenberg, Partner
    Richard Streeter, Partner

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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