Clifford Chance advises Masdar on landmark UK offshore wind investment

23 July 2025

Praveen Jagadish, Jonathan Dillon, Leonhard Rudolph, Nicola Hemsley, Josephine Stefani, Craig Grant, Joseph Woodworth, Emma Clarke, Tom Pemberton, Augusta Thorneycroft, Ross Nixon, Hannah Collins, Miguel Domingo, Nigel Howorth, Alis Pay, Amye McArthur, Zaid Mansour, Paul Harrington, Archie Zverev
London

Clifford Chance advises Masdar on landmark UK offshore wind investment

Global law firm Clifford Chance has advised Masdar, the UAE’s global clean energy leader, on its co-investment with Iberdrola in the 1.4GW East Anglia THREE offshore wind farm, which is located off the Suffolk coast in the UK. The transaction, valued at approximately €5.2 billion, is one of the largest offshore wind deals of the decade.

Under the agreement, Masdar and Iberdrola will each hold a 50% stake in and joint governance of the East Anglia THREE project. Once operational, it will be one of the world’s two largest offshore wind farms, delivering enough clean energy to power 1.3 million British homes. Initial operations are expected to begin in Q4 2026.

In addition, the East Anglia THREE offshore wind farm benefits from project financing of approximately £3.6 billion (€4.1 billion), which was signed on 9 July with 24 international banks. The project financing will cover a substantial portion of the total costs of the project.

Clifford Chance advised Masdar on all aspects of its investment including the joint-venture, M&A and financing arrangements.

The multidisciplinary Clifford Chance team was led by energy and infrastructure partner, and Masdar relationship lead, Praveen Jagadish, alongside private capital/M&A partner Jonathan Dillon, construction partner Leo Rudolph and tax partner Nicola Hemsley. The core transaction team also comprised senior associates Josephine Stefani, Craig Grant, Joseph Woodworth, Emma Clarke, Tom Pemberton and associates Augusta Thorneycroft, Ross Nixon, Hannah Collins and Miguel Domingo. The wider Clifford Chance team included regulatory support from partner Nigel Howorth, real estate support from partner Alis Pay and senior associate Amye McArthur, offtake support from counsel Zaid Mansour, and tax support from senior associate Paul Harrington and associate Archie Zverev.