International legal practice Osborne Clarke has advised the listed environmental infrastructure fund, JLEN, on its acquisition of Warren Power Limited (“WPL”) for an initial consideration, including working capital, of £14.8 million subject to additional deferred payments up to £0.8m. WPL owns 100% of the equity in Warren Energy Limited (“WEL”), which holds the rights and operational assets that make up the anaerobic digestion (“AD”) plant.
The Warren AD plant is located in Methwold, Norfolk, was commissioned in December 2015 and became operational in March 2016. The plant has a thermal capacity of c.5MWth and predominantly produces biomethane to be injected to the national gas grid. In addition, the plant also has a 0.5MWe CHP engine and is accredited under the Renewable Heat Incentive (RHI) and Feed-in-Tariff (FiT) schemes.
JLEN is a respected client of Osborne Clarke and this is the sixth successful acquisition the team has advised JLEN on, having recently acted on its acquisition of Yorkshire Hydropower Holdings, Biogas Meden Limited in December 2018, Merlin in August 2018 and two AD plants in July 2018.
The Osborne Clarke team was led by corporate Partner Adam Love and Energy and Utilities Sector Leader and Partner James Watson. Adam and James were assisted by corporate Associate Jonny Gait. The broader Osborne Clarke team consisted of Partner Erika Jupe and Associate Bridget Baillie (tax), Partner Carl Thompson (construction), Partner Matthew Germain and Senior Associate Caroline Bush (environment), Associate Director John Webster (planning), Associate Director Charlotte Walker and Senior Associate Leanne Hooper (real estate), Carl Roche (property litigation) and Matthew Kyle (regulatory health and safety).
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.