Our global pages
Close- Global home
- About us
- Global services/practices
- Industries/sectors
- Our people
- Events/webinars
- News and articles
- Eversheds Sutherland (International) Press Hub
- Eversheds Sutherland (US) Press Hub
- News and articles: choose a location
- Careers
- Careers with Eversheds Sutherland
- Careers: choose a location
Building a brighter future
- United Kingdom
- Global
21-05-2020
Eversheds Sutherland advises on Greencoat Solar’s acquisition of 156 MW portfolio
Eversheds Sutherland’s energy practice has advised Greencoat Solar (Greencoat) on its acquisition of a 156 megawatt (MW) solar portfolio from BlackRock Assets.
The investment, made by Greencoat Solar II LP, a private markets fund investing on behalf of a number of the UKs largest pension funds, will bring Greencoat’s solar generating capacity to almost 880MW. The 156MW portfolio’s electricity output will displace roughly 65,000 tonnes of emitted carbon dioxide and supply around 45,000 homes.
Eversheds Sutherland’s cross-practice team was led by Stephen Hill, Partner, Energy. The team advised Greencoat on all elements of the acquisition including the initial due diligence of the assets, all amid a complex macroeconomic environment and global pandemic.
Stephen Hill, commented:
“At a time when undertaking diligence and transactions is challenging, this is a great example of a collaborative approach from all parties to ensure a deal can be done efficiently and effectively. Eversheds Sutherland’s market leading knowledge of the sector, our longstanding relationship with Greencoat Solar, and our dedicated and hard-working clean energy team meant we were able to close out this important deal for the market despite the surrounding macro issues.”
Karin Kaiser, Greencoat Capital, also said:
“This is a brilliant portfolio of proven operational assets that will provide our clients predictable cashflows with inflation protection over the long term, whilst contributing to the decarbonisation of the UK’s electricity sector. The acquisition takes our installed solar capacity to over 880MW, across the Funds we manage, generating enough power across the year to power all the homes in a city the size of Manchester. We continue to see a strong opportunity for solar aggregation in the UK, and an active near-term pipeline.”
This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.
- Legal Compass: What does the revision of the company law mean for unlisted companies?
- Eversheds Sutherland has advised Partin Invest AB, Basunen Holding AB and Sjutton Production AB
- A trio of battery site acquisitions
- Eversheds Sutherland advises on regulatory and supervisory issues relating to outsourcing and third party relationships
- The Court of Justice of the European Union has promulgated a judgment in a case in which our team respresents Euromin Holdings (Cyprus) Limited