TLT has advised longstanding client Blackfinch Energy, a leading investor in renewable energy and energy infrastructure products, on the acquisition of two new wind energy sites in Scotland.
The two sites have been acquired through Blackfinch’s energy investment holding company Sedgwick Trading Ltd. Their addition to Blackfinch’s portfolio represents further growth for the company, with its total annual renewable energy generation capacity growing to approximately 104 Gigawatt hours (GWh) across 49 individual sites and installations.
The first project is an operating onshore wind farm that has already been issued with a Renewables Obligation Certificate (ROC) from Ofgem, and is generating approximately 17.87 GWh of electricity annually.
The second project is Blackfinch’s first subsidy-free onshore wind development project, and features two of the most efficient onshore wind turbines designed by Enercon. The wind farm is expected to generate 14.55 GWh of electricity annually, and the turbines are set to be connected to the National Grid by the end of Q1 2022.
The TLT team advising Blackfinch was led by corporate partner Kay Hobbs, alongside Nick Rains (corporate); Nick Shenken (real estate); Fergus Charlton (planning); Eleanor Cochrane (projects, infrastructure and construction); and Stuart Urquhart (commercial).
Guy Lavarack, Investment Director at Blackfinch Energy, commented:
“Adding these two projects to our expanding renewable energy portfolio was a natural step in our ambitious growth plans. This is an important milestone for Blackfinch Energy, not least because of the acquisition of our first entirely subsidy-free wind development.
"We’re grateful for TLT’s depth of knowledge and expertise in this area as well as the consistent support they provide us. It has been invaluable in delivering yet another successful outcome for the business.”
Kay Hobbs, partner in the corporate team at UK law firm TLT, added:
“We are pleased to have supported Blackfinch on these acquisitions, especially given the second project is their first foray into subsidy-free wind.
“Blackfinch has a strong reputation in the market in terms of deal execution, and we are always delighted to assist them in increasing and diversifying their portfolio.
“This deal demonstrates that investors are still hungry for subsidised operational sites, which for many are right at the top of the ‘wish list’. With fierce competition for these assets though, investors are now looking further down the project lifecycle and are more willing to take construction risk as Blackfinch has done with the second project.”
Helping you navigate your business through the risks and opportunities that Brexit will bring.
Read moreThe way people shop is constantly evolving, from the growth of online and the changing use of stores...
Read moreThe widespread disruption and closure of businesses caused by the Covid-19 pandemic and the subsequent national and local lockdowns has brought into sharp focus the question of available insurance cover for losses under...
Read moreWatch our video series for information on the legal issues that are affecting the real estate sector. Each...
Read moreThe pandemic has had a deep and long-lasting effect on the leisure, food & drink sector, forcing operators to embrace new ways of attracting and servicing customers.
Read moreThe pandemic has forced the majority of the workforce into a world of remote working. As a result, our cities are evolving.
Read moreOur countdown to Brexit and beyond podcast series looks at the impact for businesses on both sides of the pond of any free trade agreement between the UK and Europe and the UK and the US. This
Read moreThere's a growing demand for retailers to do more to attract the Purple Pound – the collective spending power of disabled shoppers, estimated to be worth around £274bn. We look at the opportunities, the legal issues and...
Read moreGreen finance is gaining speed, driven by global climate change pressures and the recognition of the vital role which sustainability plays in a resilient financial services sector.
Read moreKeep on top of the employment law issues that matter most to you and your business with our new podcast.
Read moreWe're one of the fastest growing and busiest corporate teams in the UK, advising clients including entrepreneurs, multi-nationals, PLCs, private equity and overseas investors on complex corporate transactions, governance and business turnaround issues.
Read moreWe advise clients on a vast array of major infrastructure projects from ports and harbours, rail and railway, tram systems, tunnels and bridges and power generation in projects.
Read moreProviding contentious and non-contentious advice on construction projects.
Read moreProviding a comprehensive service from development and investment through to asset management and tax.
Read more