TLT has advised WELink Energy Investments (UK) Limited (WELink) and Project Blue Sky Limited (PBSL) on the sale of their 61MW Swindon solar farm to Rockfire Capital, a specialist investment management business. The site is on the former WW2 airfield in Wroughton near Swindon.
The TLT team was led by corporate partner, Kay Hobbs, and included real estate legal director, Kerri Ashworth; planning and development partner, Katherine Evans; and corporate associate, Amelia Jarrett. Ernst and Young acted as financial advisors on the sale.
TLT's Kay Hobbs said: "This transaction is a further indication that, despite recent turbulent times in this sector, operational assets are in high demand, particularly amongst the funds and yieldcos. Yet again, this transaction was concluded in very short order which is testament to the 'can do' attitude and experience of WELink, PBSL, E&Y and Rockfire. It was a pleasure working with all parties."
Andrew Dodge at WELink said: "This was complex transaction with multiple stakeholders with its own unique set of challenges with an aggressive timetable to close. WELink is delighted at the support and commitment it received from all parties involved in this project sale. I would thank our partners CTIEC, BSR and our advisors TLT, E&Y and the rest of the team who have work so hard to make the project a success."
TLT advised PBSL on its acquisition of the shovel ready solar farm in August 2015, following which WELink brought its expertise as a joint venture partner during the construction phase. This project is one of the UK’s largest single solar projects.
This latest deal builds on TLT’s extensive expertise within the solar market. To date the team has been involved in getting over 3GW of solar projects either in the pipeline, contracted or built.