Leading global law firm Herbert Smith Freehills has advised HKEX-listed Panda Green Energy Group on the disposal of six solar farms in the United Kingdom.

Panda Green Energy, formerly known as United Photovoltaics Group, is a leading eco-development solution provider. It is part of China Merchants Group, one of the largest Chinese state-owned enterprises.

The solar farms are located in the UK counties of Oxfordshire, Northamptonshire, Nottinghamshire and Cumbria and were acquired in 2017, as the first overseas acquisition by the group. They have a combined capacity of about 82.5MW.

The transaction will enable Panda Green Energy to free up capital for operations and allow the company to focus on future investment opportunities.

"Having advised the client on the original acquisition, we are delighted to have worked with them on this deal," said Hong Kong energy partner Hilary Lau. "This transaction demonstrates our ability to complete deals for Asian clients working in competitive global markets, and showcases our expertise in solar and other renewables markets."

The team was led by Hilary and Beijing partner Monica Sun, and senior associate Yida Xu, with assistance from associates Maisie Ko, Aaron Li, Jason Shamdas and Yunfei Guo. London partner Sarah McNally advised on the insurance aspects of the transaction with assistance from associate Daniel Bunoza.