Magazines
Newsletter
Advertise
Search
The Business Magazine - B2B Business News - Site Logo
The Business Magazine - B2B Business News - Site Logo
The Business Magazine July 2024
Read now
PICK YOUR EDITION

TLT advises Gloucester's Blackfinch on acquisition of wind energy sites

The Business Magazine article image for: TLT advises Gloucester's Blackfinch on acquisition of wind energy sites
17 February 2021

Bristol-based law firm TLT  has advised longstanding Gloucester client Blackfinch Energy, an investor in renewable energy and energy infrastructure products, on the acquisition of two new wind energy sites in Scotland.

The two sites have been acquired through Blackfinch’s energy investment holding company Sedgwick Trading Ltd. Their addition to Blackfinch’s portfolio represents further growth for the company, with its total annual renewable energy generation capacity growing to approximately 104 Gigawatt hours (GWh) across 49 individual sites and installations.

The first project is an operating onshore wind farm that has already been issued with a Renewables Obligation Certificate (ROC) from Ofgem, and is generating approximately 17.87 GWh of electricity annually.

The second project is Blackfinch’s first subsidy-free onshore wind development project, and features two of the most efficient onshore wind turbines designed by Enercon. The wind farm is expected to generate 14.55 GWh of electricity annually, and the turbines are set to be connected to the National Grid by the end of Q1 2022.

Guy Lavarack, Investment Director at Blackfinch Energy, said: “Adding these two projects to our expanding renewable energy portfolio was a natural step in our ambitious growth plans. This is an important milestone for Blackfinch Energy, not least because of the acquisition of our first entirely subsidy-free wind development."

Kay Hobbs, partner in the corporate team at UK law firm TLT, added: “We are pleased to have supported Blackfinch on these acquisitions, especially given the second project is their first foray into subsidy-free wind.

“This deal demonstrates that investors are still hungry for subsidised operational sites, which for many are right at the top of the ‘wish list’. With fierce competition for these assets though, investors are now looking further down the project lifecycle and are more willing to take construction risk as Blackfinch has done with the second project.”


Share 

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.

Latest deal ticket

All deals

Events

All events

Related news


Group Titles

Dorset BIZ NewsHampshire BIZ News
crossmenu