London—Dentons has advised Gamma Energy Limited ("Gamma"), part of the Gamma group, a Spanish technological group with a strong focus on renewable energy, on its acquisition of a 50.01% interest in the Stokes Marsh solar PV farm in Wiltshire, South West England, from SunEdison Holdings Corporation LLC ("SunEdison Holdings").

Gamma and SunEdison Holdings had initially entered into a joint venture to develop the 15.04MW ground-mounted plant in Stokes Marsh in 2014. This share acquisition now gives Gamma a 100% interest in the Stokes Marsh project, reinforcing Gamma's position in the UK solar PV sector.

Gamma's acquisition of the interest was complicated by US bankruptcy proceedings, which affect many of the companies in the SunEdison group, including SunEdison Holdings. The acquisition therefore required approval from the US bankruptcy court before it could complete.

Commenting on the deal, Energy partner Lucille De Silva said, "We are delighted to have advised Gamma on this acquisition.  Gamma has been very active in the UK secondary market over the last few months, which is positive news for the UK solar market – particularly given the recent cuts to subsidies available to the solar industry."

This is the latest in a series of deals on which Dentons has advised Gamma, including UK solar PV projects representing over 60MW of capacity. In February 2017, Dentons advised Nordian UK, part of the Gamma group, on the sale of its solar PV project at Wick Farm, Somerset. Dentons also advised Nordian UK and Gamma throughout 2016 on the acquisition of the Wick Farm solar PV site (originally structured as one 15MW site), separating the site into three projects – two of which are community interest projects – and on the sale of those two projects to Communities for Renewables.

The Dentons team advising Gamma was led by Energy partner Lucille De Silva with support from Energy associate Mark Armitage and Corporate associate Edward Williams in London and bankruptcy partner Claude D. Montgomery in New York.