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Hjort’s Focus on Renewable Energy Transactions Continues

Hjort assisted in the expansion of UtsiraVIND Consortium

Our firm assisted Source Galileo Norge AS and their joint venture partner Odfjell Oceanwind AS in the strengthening of the dynamic offshore wind group, UtsiraVIND Consortium through the expansion of their partnership with major global investors in renewable energy and offshore wind in Europe.  KANSAI, one of the largest Japanese utilities, and Ingka Investments, the investment arm of Ingka Group, the largest IKEA retailer, expanded the consortium and will be bidding into the Utsira Nord floating offshore wind tender process in September 2023.

Together with Ashurst LLP from London, Hjorts team Jørn A Uggerud, Heddy Ludvigsen, Monica Syrdal, Ole Iversen Johnstad Kalvø and Veronika Steen Svendsen assisted with the drafting and negotiation of the Shareholders’ Agreement, Share Purchase Agreements, Development Services Agreements as well as regulatory matters and other legal issues relevant for the UtsiraVIND project.


Read more about UtsiraVIND consortium here

“Driven by the shared vision of a greener energy future, the consortium brings together proprietary technology in floating structures, electrical engineering, financial strength, and extensive offshore wind experience. By pooling their knowledge and strengths, they seek to make a relevant contribution to develop new offshore wind farms in Norway and also to make Norwegian floating wind a globally cost-competitive energy supply solution.”

– Source Galileo

Our interdisciplinary teams provide our clients with accurate, effective advice in individual projects. We also have extensive experience of acting as a strategic sparring partner.