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Eversheds Sutherland advises Pensions Infrastructure Platform on its acquisition of a wind farm portfolio from Scottish Equity Partners

  • United Kingdom
  • Global

    18-04-2019

    Eversheds Sutherland has advised Pensions Infrastructure Platform (PiP) on its purchase of a portfolio of onshore wind farms in locations across the UK and Ireland, comprising a total of 64 turbines, from Scottish Equity Partners (SEP) in a £50m (€58m) deal.

    The portfolio ranges from single-turbine sites across the Orkney and Shetland Islands to utility-scale turbines in Curraghderrig, Ireland and the Port of Tilbury in London (the latter of which provides power to the Port of Tilbury under a private wire PPA arrangement).

    The SEP portfolio contains all five of the wind farm investments made by the Environmental Capital Fund, a specialist infrastructure fund managed by SEP.

    The Eversheds Sutherland team was led by corporate Partner Iwan Walters, assisted by Associate Peter Graystone (corporate). Further support was provided by lawyers from across the global legal practice’s clean energy sector group.

    Iwan Walters commented:

    “We are delighted to have assisted PiP with another clean energy acquisition which will contribute to the continued growth and success of its Multi-Strategy Infrastructure (2-5%) Fund, enabling it to meet the long-term pension obligations of its institutional investors and enhance its portfolio and reputation in the market. This is the third acquisition made by this fund on which Eversheds Sutherland has had the privilege of advising PiP, building on its previous acquisition of 31 single site wind turbines situated throughout the UK from Ingenious and AGR in 2016 and six solar projects from Trina Solar in 2017.”

    Joe Davis of PiP commented:

    “Many thanks to Eversheds Sutherland for their support on this transaction. Their wide ranging role covered due diligence in both the UK and Ireland, raising a senior acquisition facility, and advising on the M&A. This is the third acquisition made by PiP with the support of Eversheds Sutherland and each time they have done a very thorough and successful job.”

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