16 October 2015
Watson Farley & Williams (“WFW”) has advised Bayerische Landesbank (“Bayern LB“) on the long term financing of a portfolio of 18 single turbine onshore wind projects with Golden Square Energy (“GSE”), the joint venture established between Ingenious Clean Energy and AGR Renewables in 2014.
GSE aims to complete the second tranche of financing of a further 10 assets by the end of this year which would be the market-leading financing transaction of a feed-in tariff (FiT) wind portfolio in the United Kingdom.
GSE has to date invested financing in excess of £65 million in its FiT wind portfolio and is continuing to develop and acquire further sites from developers and farmers to add to its portfolio.
The WFW deal team was led by London-based Energy & Infrastructure partner Henry Stewart, supported by senior associates Michael Kruger (Energy & Infrastructure) and Charlotte Williams (Real Estate). Energy & Infrastructure associates Mike Folsom, Tom Harrison-Cripps and Craig Bruce also advised on the deal, along with Real Estate associate Sahina Jada. Burness Paull advised Bayern LB on Scottish law matters.
WFW lead partner, Henry Stewart commented: “We are delighted to have advised Bayern LB on this important transaction within the onshore wind sector. Onshore wind continues to play an important role in the UK’s renewable energy mix and we look forward to continuing to advise Bayern LB as Golden Square Energy expand their portfolio.”