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Eversheds advise Pensions Infrastructure Platform (PiP) on its first equity investment with Golden Square Energy

  • United Kingdom
  • Global

    20-12-2016

    The Eversheds Clean Energy team advised PiP, a dedicated infrastructure investment manager established by pension schemes to facilitate long term investment into UK infrastructure, on the transaction.

    The PiP Multi-Strategy Infrastructure Fund acquired a portfolio of 31 individual wind turbines from Golden Square Energy, the renewables business and joint venture partnership between Ingenious Infrastructure and AGR. The sites are well diversified across the UK and all of the turbines are operational and accredited under the UK’s feed-in-tariff regime.

    The Eversheds team was led by partner, Iwan Walters with corporate assistance from associate Rhodri Evans. Construction advice came from partner Rob McNabb and associate Rachael Aaron; regulatory advice from partner Jean-Pascal Boutin and associate Imogen Evans. Real estate advice came from partner Geraint Pullin-Thomas and associate Adam Weatherley and banking advice from partner Indraj Mangat, legal director Victoria Quek and associate Winnie Ma.

    Mike Weston, PIP chief executive, comments:

    “We were pleased to be able to work with Eversheds on this transaction. Revenue from the acquisition, combined with guaranteed availability under long-term contracts, will provide our pension scheme investors with 20 years of the secure, inflation linked cash flows they are seeking to support their accrued pension payment obligations.”

    Iwan Walters says:

    “This is a great acquisition to be involved for Eversheds as it is PiP’s first equity investment. This investment demonstrates how attractive the feed in tariff wind regime is to those investors like PiP who are looking for a stable long term income stream.”

     

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