International legal practice Osborne Clarke has advised InfraRed Capital Partners backed GFPII on the sale of one of the largest flexible energy generation portfolio’s in the UK to Conrad Energy.
The sale of Viridis Power by InfraRed follows the conclusion of the successful build-out of over 300 MW of new generation capacity over the past five years. Viridis Power was pioneering in developing decentralised flexible generation plant to support the evolving requirements of the Capacity Market and the National Grid, being an early participant for smaller scale generation in the Balancing Mechanism. Viridis Power developed its own in-house trading platform to despatch the plant and provide power trading services.
The transaction was led by Projects Partner Andy Normington and Associate Director Alex Underwood who were supported in Corporate by Partner Matthew Bodfield and Associate Courtney Fowler, in Projects by Senior Associate Cameron Houston, Tax Associate Director James Hamon, in Environmental by Partner Matthew Germain and Associate Director Caroline Bush, in Employment Associate Director Leanne Coates and in Commercial Senior Associate Joanne Loveridge.
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.