CMS Cameron McKenna LLP has acted for Northern Ireland Electricity plc in its sale of SONI, the Transmission System Operator (TSO) in Northern Ireland, its wholly-owned subsidiary. SONI was sold to EirGrid plc for an undisclosed sum.
The sale is subject to the approval of the Irish Competition Authority and certain amendments to SONI’s licences, and is scheduled to complete by October this year.
The CMS Cameron McKenna team was led by Corporate Partner, Charles Currier, and Energy Partner, Robert Lane, who were supported by Steve Mack and Lucy Baillie (Corporate) and Munir Hassan (Partner) and Robin Woolnough (Energy).
EirGrid, the independent TSO in the south of Ireland, and SONI are already partners in the Single Electricity Market Operator (SEMO) joint venture which carries out the role of market operator for the all island wholesale single electricity market (SEM).
CMS Cameron McKenna previously advised Northern Ireland Electricity plc on the creation of the ground-breaking SEM which went live on 1 November 2007. The SEM created a single, pool based cross-border market in electricity across the island of Ireland.
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