TLT has advised Viridis Power on the sale of its flexible energy generation portfolio to Conrad Energy, comprising a generation mix of over 320MW of renewable power and gas-fired power plants.
The acquisition takes the operational portfolio of Conrad Energy to more than 440MW, more than doubling its share of flexible generation and making Conrad Energy the largest flexible generation platform in the UK.
The sale follows Conrad Energy’s acquisition of a 24MW consented gas-fired flexible generation project in December 2019, on which TLT advised.
TLT advised on all the property and planning aspects of the sale, drawing on the firm’s significant clean energy experience to complete the transaction.
Head of Clean Energy and Real Estate, Maria Connolly, led the team, working alongside property solicitor Andrew Brown and planning specialists partner Katherine Evans and associate Kate James.
Maria Connolly, Head of Clean Energy and Real Estate at TLT says:
“Energy demand is changing meaning local, flexible generation is critical to aid the transition as the UK integrates more renewable power into the mix.
“This transaction shows the continued appetite in the market for flexible generation projects, as well as the increasing interest from investors in projects that will help drive the UK’s clean energy transition."