International legal practice Osborne Clarke has advised The Renewables Infrastructure Group Limited (“TRIG”) a London-listed investment company, that works with InfraRed Capital Partners as its Investment Manager and Renewable Energy Systems as its Operations Manager, on its acquisition of a 100% interest in a UK operational wind farm, Neilston Community Wind Farm (the “Project”), a 10MW onshore wind project in East Renfrewshire, Scotland.
The Project was acquired by TRIG from the private developer Carbon Free and Neilston Development Trust for a total consideration of £22.6 million without any third-party project debt. The Project has been accredited under the UK’s 20‐year 1.0 ROC per MWh support scheme, has been operating for four years and beneﬁts from a power purchase agreement with Statkraft.
TRIG’s investment in the Project has been ﬁnanced from the proceeds of the recent equity raising under TRIG’s share issuance programme. The investment increases TRIG’s portfolio to 54 projects with aggregate net generating capacity of 720MW.
The cross-sector Osborne Clarke team that advised The Renewables Infrastructure Group on the transaction was led by Corporate Partner David Ferris and Energy & Utilities Partner Simon Hobday. They were assisted by Associate Director Chris Yeo and Senior Associate Alex Underwood (Corporate), Senior Associate Amy Stray (Projects), Associate Lucy Wilson (Banking) and Associate Director Alexandra Gower (Construction).