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Eversheds Sutherland advises National Grid and Energinet on Viking Link

  • Global
  • United Kingdom

    20-12-2018

    A joint venture agreement to deliver an interconnector between the UK and Denmark

    Eversheds Sutherland has advised National Grid and Energinet (the Danish TSO) on the drafting and negotiation of a Joint Ownership and Operating Agreement to construct and operate a 760km long, high voltage direct current electricity interconnector between Bicker Fen in Lincolnshire, Great Britain and Revsing in southern Jutland, Denmark.

    The agreement is a significant milestone for the project, as it sets out detailed governance arrangements for delivery and operation of the link.

    National Grid and Energinet hold a 50/50 share of Viking Link, with the total value of the project valued at approximately 2 billion Euros.

    Viking Link is now in a position to place contracts for the construction of the interconnector after the required consents and licenses have been achieved.

    The Eversheds Sutherland team was led by corporate Partner Jason Lovell, who was assisted by Robert Pitcher, Partner, and Chris Pass, Associate.

    Ambika Chauhan of National Grid commented:

    “The Viking Link interconnector is a complex project, both from a technical perspective and a regulatory perspective, with the interconnector crossing both territories through the North Sea, and being co-owned by a UK entity and European state-owned entity. The Eversheds Sutherland team managed this complexity with bespoke drafting and advice that was fit for purpose.”

    Klaus Storgaard of Energinet commented:

    “Jason and the team were very responsive, providing timely input during negotiations and striking a balance between both parties.”

    Jason Lovell, commented:

    “We are pleased to have supported National Grid and Energinet on the achievement of this significant milestone for the project. We look forward to assisting the parties as they embark on the construction phase of the project.”

     

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