International legal practice Osborne Clarke has advised Conrad Energy, a leading UK energy company, on closing the UK’s first standalone greenfield financing of two Pathfinder synchronous condenser projects, for c. £200m.

This first-of-a-kind £200 million financing package, launched by Conrad Energy's adviser Nomura Greentech, was supported by commitments from AIB, Siemens Bank, HSBC, Bank of China and CaixaBank.

Proceeds of the financing will be used to fund the construction of the synchronous condensers, located in the East of England, as National Grid prepares to operate at zero-carbon by 2025.

The Osborne Clarke team advising on this deal was led by Partners Hannah Roscoe and Dominic O'Brien, together with Associate Director Cameron Houston and Associate Lucy Gillespie (all projects).

As well as advising Conrad Energy on its most recent financing process, Osborne Clarke has been working with the energy company in a broader capacity over the past year, advising on project documents, planning, and construction aspects of the pathfinder project. The wider Osborne Clarke team includes Partners Phil Davies (construction) and Neil Bromwich (planning and environment), Senior Associates Alistair Russell (construction) and Julian Wolfgramm-King (planning and environment), and Associate Amber Bains (projects).

Osborne Clarke has an established and well-respected position as one of the leading law firms advising on renewable energy projects and transactions. For over 20 years, it has helped clients to seize new opportunities and meet the challenges of making energy generation clean, affordable and secure. The combination of the team’s experience and understanding of the energy sector means they are regularly called upon to support businesses on all aspects of their commercial, regulatory, corporate, finance and construction legal needs.

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