Osborne Clarke advises lenders on a landmark £156 million financing of a UK synchronous condenser portfolio

International law firm Osborne Clarke advised a consortium of lenders – comprising Standard Chartered, Barclays and Siemens Financial Services (through Siemens Bank) - on the £156 million project financing granted to Quinbrook for the development of its synchronous condenser portfolio in the UK. 

The portfolio is comprised of the Cilfynydd project in South Wales and the Sellindge project in Kent, both currently under construction and expected to be completed in 2027 and 2028 respectively. 

This transaction showcases the firm's strength in advising on complex infrastructure projects that are central to the UK's net zero and grid-stability ambitions. 

Osborne Clarke’s role included advising on and negotiating the full suite of finance documents and undertaking due diligence on the complex project development arrangements, including the revenue and construction contracts.

The Osborne Clarke multidisciplinary team was led by partner Dominic O’Brien, supported by partner Hannah Roscoe, associate directors Grahame Fischer and Bethan Moore, senior associate Lucy Gillespie and associates Sophia Luton Rich and Hannah Wooderson (all Projects). The Construction team was led by partner Duncan Parker, with support from associate Verena Bilo, and the Real Estate team was led by legal director Chris Groves. Edward Aves and James Meakin provided tax support.