CMS has advised Low Carbon, the renewable energy investment company, on a joint venture with Macquarie Capital to deliver a portfolio of up to 300MW solar projects in the UK that could power up to 100,000 homes annually.

The first phase of the collaboration, scheduled to be operational in February 2014, will see the construction of three projects based in Cornwall and Wales, representing a total investment of £29 million.

The CMS team advised Low Carbon on the financing, projects, power purchase and corporate aspects of the transaction. On the financing side, CMS Partner Jonathan Dames led the team, with assistance from senior associate Stephanie Flynn, associate Thomas Bishai and trainee Charlotte Waldron.

Senior associate Mark Oliver led on the projects side with assistance from Vivienne Inmonger, and Partner Phil Duffield and associate Oliver Hamilton provided advice on the power purchase agreement.  Corporate partner Danielle Heath and senior associates Stuart Hohnen and Rowley Higgs advised on the joint venture and acquisition aspects of the transaction.

Danielle Heath commented: “We are delighted to provide ongoing support to Low Carbon as it consolidates its position as a market-leader in the development and delivery of UK solar PV projects.”