HVG Law has advised Chubu Electric Power Company Netherlands B.V. (CEPCON) on the acquisition and financing of the transmission assets relating to the 1218MW Hornsea One offshore wind farm from Hornsea 1 Limited.

CEPCON (a wholly owned subsidiary of Chubu Electric Power Co., Inc.) acquired the assets through Diamond Transmission Partners Hornsea One Limited (DTP Hornsea One), a joint venture between CEPCON, Diamond Transmission Corporation Limited (a wholly owned subsidiary of Mitsubishi Corporation) and MUL Infrastructure UK Limited (a wholly owned subsidiary of Mitsubishi HC Capital Inc.).  Hornsea 1 is a joint venture between Ørsted (50%) and Global Infrastructure Partners (50%).

The regulated divestment of transmission assets included the onshore substation, export cables, three offshore substations and an offshore reactive compensation station.  A syndicate of international lenders partly financed the purchase.