Solarplicity was created in 2012, to provide more affordable, sustainable solar PV energy solutions. It has already built and manages over 300MW of utility scale ground mount and commercial and residential roof mount solar assets and (including over 40,000 residential housing association customers). The acquisition and re-organisation, backed by Apollo Investment Corporation (AIC) (formerly through its investment in AMP Solar (UK) Limited), enables Solarplicity to continue its UK expansion within the UK renewable energy sector. AIC were advised by Slaughter and May, with their team led by their head of Private Equity, Jeff Twentyman.
David Elbourne, CEO of Solarplicity, said:
“This is a new dawn for the solar energy market in the UK and I am incredibly excited at the creation of our new company and new brand leading the way. Osborne Clarke have supported us in getting this far and have done a great job for us and now the next phase of our journey starts.”
The Osborne Clarke team that advised on the transaction was led by Partners James Watson (energy projects) and Simon Smith (corporate), supported by tax Partner Erika Jupe and, among others, corporate Associate Director Mark Saunders and Associate John Jarvis.