Eversheds Sutherland advises Origami Energy on sale of 19MW of battery storage projects

Eversheds Sutherland has advised market leading technology company Origami Energy on its sale of two battery storage projects to UK-listed Gore Street Energy Fund.

The two battery storage projects, which have a combined capacity of 19MW, are in south east England. The portfolio includes a 10MW front of meter unit in Brentwood and a 9MW behind-the meter unit at Tilbury Port in Essex.

The international law firm Clifford Chance advised the Mann Group, Karlsruhe, on the sale of the office building at the Alte Oper (BAO) in Frankfurt to a fund managed by Tishman Speyer.

The parties have agreed not to disclose the purchase price. The sale still has to be approved by the antitrust authorities.

International law firm Ashurst is advising Merlon International LLC, a Delaware company, in relation to the agreement to sell its subsidiary company Merlon Petroleum El Fayum Company, which owns oil & gas assets in Egypt, to SOCO International plc, which is listed on the Official List in London.

The company being sold is an oil & gas company incorporated in the Cayman Islands which owns a 100% operated working interest in the onshore El Fayum concession in the Western Desert in Egypt.

Slaughter and May advised Ørsted on its proposed disposal of a 50% interest in the 1.218MW Hornsea 1 offshore wind farm to Global Infrastructure Partners (GIP). It also advised on the terms of certain related financing, construction, operations and maintenance and power purchase arrangements. Hornsea 1 is currently under construction and will be the world’s largest offshore wind farm when commissioned in 2020.

We advised Coillte on the sale of its operating wind farm assets to Greencoat Renewables plc for an Enterprise Value of €281 million or an equity price of €136.1m.

The asset sale comprises Coillte’s 50pc stake in each of its joint venture wind farms at Raheenleagh, Cloosh Valley and Castlepook and a 25pc stake in Sliabh Bawn. In total the assets represent a net operating capacity of 105.1MW on an equity basis. Coillte has retained ownership of the land on which the wind farms are situated which will provide significant ongoing income for the company.

International legal business DWF has advised the shareholders of Love Energy Savings, a leading energy price comparison specialist, on the secondary buyout of the business by mid-market private equity investor LDC, to further accelerate organic growth.

The deal also marks a partial exit for NVM Private Equity, which first backed the business in September 2015.