27/11/2008
Ogier Guernsey has advised Irish tidal renewable energy company OpenHydro on its purchase of a substantial equity interest in Alderney Renewable Energy Limited (“ARE”).
Based in the Channel Islands, ARE recently received an exclusive 65 year licence from the States of Alderney for the generation of renewable tidal and wave energy from Alderney’s territorial waters. The installation of a 285 MW tidal array will give the Island of Alderney a link to the French grid thereby providing security of supply and financial benefit for the Island and its residents.
Ogier advised OpenHydro on a number of commercial and regulatory issues throughout this transaction.
The Ogier team was led by Roger Le Tissier, partner, and assisted by senior associate, Andy Lowe and associate, Rachael Sanders.
