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Eversheds Sutherland advises on the largest European M&A solar transaction in 2018

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    Greencoat Capital bolsters its UK solar portfolio

    Eversheds Sutherland has advised Greencoat Capital LLP (Greencoat Capital) on the acquisition of a 142MW portfolio of solar generation assets from Canadian Solar Inc. (Canadian Solar), the largest M&A solar transaction in Europe this year.

    The portfolio – considered to be one of the largest remaining operational solar portfolios on the UK market – comprises 24 sites, all of which were developed by Canadian Solar. The majority of the assets are accredited under the ROC regime (between 1.2 and 1.4 ROCs) and seven of the assets are accredited under the FiT regime.

    Greencoat Capital manages approximately 470 MW of solar generation capacity, across 60+ sites in the UK, and has deployed approximately £0.6 billion in the sector across two dedicated solar funds over an 18 month period. Greencoat Solar is now one of the largest owners of solar assets in the UK.

    The Eversheds Sutherland team was led by Stephen Hill and Iwan Walters with Senior Associate Caroline Clapham providing the key corporate support together with Associate Sachna Shah. Principal Associate Jenny Thompson, Senior Associate James Shawe and Associate Rachael Aaron providing support on Real Estate and Construction, and Principal Associate Chris Mclauchlan and Associate Csilla Gyori on financing.

    Lee Moscovitch, Partner, at investment manager Greencoat Capital said:

    “Canadian Solar has developed a significant portfolio of high quality operating UK solar PV assets. We are delighted with the transaction. We continue to see great opportunities in the secondary market and demand for exposure from investors. We look forward to continuing to expand the platform.”

    Stephen Hill, Partner at Eversheds Sutherland said:

    “We have worked closely with the Greencoat solar funds since their inception. They have been very active in the market and we are delighted to have been a part of their continued success.”


    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.

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