Matheson recently advised Quinbrook Infrastructure Partners, a specialist global investment manager focused exclusively on the infrastructure needed for the energy transition, on its acquisition of the Wexford Synchronous Condenser Project, a proposed 963 MVA.s. facility in Co. Wexford. This is Quinbrook Infrastructure Partners’ first investment in Ireland, building on its grid stability leadership in the UK, where it is the largest private owner of synchronous condensers.
Synchronous condensers provide stability to the electricity grid by producing inertia – the stabilising effect of traditional generators. This allows the grid to use more renewable electricity without affecting the reliability of the grid.
Corporate Partner Brian McCloskey commented:
“We are delighted to have supported Quinbrook on its first Irish transaction and to have played a part in this novel acquisition. Synchronous condensers provide an important service for Ireland’s goal of having 80% renewable electricity by 2030. This transaction illustrates the growth and development of the services which support Ireland’s renewable energy infrastructure.”
The Matheson team was led by Brian McCloskey, Ciara Finnan and Dan McAleese and included expertise from across various departments including Vahan Tchrakian, Chloe Power, Sophie Lawless (Tax), Conor Blennerhassett, Owen Collins, Coiré McCrystall (Energy & Infrastructure), Nicola Dunleavy, Ruadhan Kenny, Ciara Smyth, Rhona Barry, Jennifer Ellen Ryan (Commercial Litigation), Cillian O’Boyle, Tai Ogunde (Commercial Real Estate) and Niall Collins, Simon Shinkwin, Laura McDonnell and Tobi Lawal (Competition).
With a wealth of experience across our six partner led offices worldwide, Matheson has some of the most experienced corporate lawyers in Ireland. This successful transaction is a further example of the strength and depth across our market-leading Corporate M&A team and our experience delivering for clients on complex and innovative domestic and international corporate transactions across all industry sectors.
For more information about our legal services, please contact a member of the Corporate team team or your usual Matheson contact.
