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Wragge & Co's Energy team powers ahead on solar deal

25 Nov 2013

Wragge & Co's Energy team has advised on a major transaction to acquire sites for the construction of solar farms in the UK. Primrose Solar, jointly backed by York Capital and Pioneer Point Partners Ltd, acquired five sites across South Wales and the South Coast. The sites have planning permission and construction is about to commence. When built, the farms will add 38 megawatt hours (MWh) to the grid, enough to supply around 11,500 homes and save up to 16,400 tonnes of CO2 annually.

Wragge & Co's legal experts advised the buyer on all legal aspects of the deal, assisting with due diligence, acquisition arrangements, construction contracts, operational maintenance agreements and buyer structures. They also worked closely with the sellers of the solar farm, Camborne Energy Group and its legal team at Eversheds.

The engineering, procurement and construction contractor, Conergy, was advised by Taylor Wessing.

Gareth Baker, a director who leads Wragge & Co's Corporate Energy team said: "This has been a complex transaction, but everyone worked collaboratively to get it done. The acquisition and subsequent build out is a significant step towards enhancing the UK's renewable energy supply."

Assisting Gareth were associate Victoria Hirst and a range of specialists from Wragge & Co's cross firm Energy team including Paul Green, Helen Emmerson, Emma Pioli, Derek Goodban and Graham Wrigglesworth.

Wragge & Co's Energy team named '2013 firm of the year' in the regional 'Projects, energy and natural resources' category by Legal 500, offers clients including governments and regulators, developers, financial institutions, upstream oil and gas companies, generators, network operators and energy suppliers, and traders proactive, commercial and creative solutions. It has an industry-leading reputation in UK and international energy transactions, structured financing, regulation, transactional energy work and energy trading.

The team has a track record in solar energy including advising on the UK's largest ever solar bond deal and two solar transactions worth £26 million.

Highlights from the past year include a successful judicial review for Infinis, a US$500 million oil and gas deal, and a significant number of renewables and energy-from-waste transactions.

Matter Type
Asset Sale: Acquiror's Counsel
Industry
Energy & Utilities
News Category
Energy, Utilities & Natural Resources
M&A