International law firm Osborne Clarke has advised Infragreen 4 RE UK Limited on the £27 million debt financing of its first portfolio of UK battery storage projects.
Infragreen 4 RE UK is a subsidiary of 4 Renewable Energy (4RE) which itself is an independent power producer (IPP) arm of RGREEN INVEST, an independent French investment management company specialised in investing and financing for energy transition and climate change adaptation infrastructure projects.
The Osborne Clarke team was led by finance partner Caroline Saul who specialises in energy and infrastructure projects. The team also included associate director Michael Kruger, corporate partner Matthew Lewis, real estate partner Charlotte Walker, energy partner Simon Hobday and tax associate director Elizabeth Shanahan, who were assisted by Anna Fouracre, Jay Eng, Gavin Williams, Giles Herring and John Annan.
Corporate finance specialist IDCM managed the financing and due diligence process (legal, technical and insurance) on behalf of 4RE. IDCM was also responsible for building the financial model, supporting the audit process and advising on the financing documentation.
The UK's National Grid says that the country could need 13GW of energy storage by 2030 to ensure its net zero future. In 2019, under the Climate Change Act, the UK government legally committed to achieving net zero by 2050. Osborne Clarke is well-placed to assist on every aspect of the energy transition required to meet these targets.