TLT has advised NextEnergy Solar Fund, an incorporated investment company focusing on operational solar photovoltaic assets, on its first acquisition of a solar rooftop portfolio. This takes NextEnergy’s UK solar portfolio to 253MW at a total investment value of £296.1 million.
The feed-in tariff revenue portfolio consists of nearly 700 rooftop installations in Leicestershire which were connected between November and June 2013, costing NextEnergy up to £2.3 million
The TLT team was led by corporate associate Kay Hobbs and included corporate solicitor, Amelia Jarrett; real estate legal director, Kerri Ashworth; and commercial solicitor, Tim Kittow.
TLT’s Kay Hobbs said: "Despite turbulent times for the sector over recent months the M&A market for renewables assets is as strong as ever and NextEnergy continues to be at the forefront of such activity.
"Having acted for NextEnergy on a number of other solar acquisitions, we are delighted to have advised our client on its first rooftop portfolio acquisition. This deal indicates NextEnergy's continued commitment to this sector and we look forward to working with them on future opportunities."
This latest deal builds on TLT’s expertise within the solar market. To date the team has been involved in getting over 1GW of solar projects either in the pipeline, contracted or built.