International legal practice Osborne Clarke has advised leading UK infrastructure manager and project management provider, Equitix and Equitix Management Services, on the tender and successful completion of the initial two phases of the largest Solar O&M consolidation project in the UK.
The project involves 12 solar parks comprising c.150MWp the four phase project is being managed by Equitix Management Services across a two year period.
The first two phases saw PSH Operations being appointed as new O&M contractor across five Equitix solar projects. The third and fourth phases across a further seven projects will be completed in 2019.
The O&M agreement provides Equitix with standardisation of procedures across its portfolio allowing for greater efficiencies of management, cost and resource.
Osborne Clarke brought together a team of cross-sector experts who advised on the matter, which was led by Energy and Utilities Sector Leader and Partner James Watson, who commented, "This was an exciting and high-profile matter for the energy sector. We're seeing an increase in O&M consolidation and refinancings across the sector as it’s a key way that businesses can achieve savings across their portfolios."
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.
Bayerische Landesbank and Santander were the lenders for the first two phases. Enertis acted as Technical Adviser. EMS acted as transaction managers for Equitix as client.