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DLA Piper advises John Laing on the Dungavel wind farm acquisition and project financing

11 Apr 2014

DLA Piper has acted for John Laing on the acquisition of Dungavel Wind Farm from E.ON and its successful project financing. Dungavel Wind Farm is a 13 turbine, 26MW on-shore wind farm development in South Lanarkshire, Scotland, which reached financial close on 4 April 2014.

The turbine manufacturer is Vestas and the transaction involved a power purchase agreement with Statkraft.

Partner Natasha Luther-Jones led a team from DLA Piper's Leeds and Edinburgh offices which included senior associate Laura Gordon, associates Amy Bowers, Rosemary Horsewood and Robert Cockburn from Leeds. The team in Edinburgh comprised partner Sandy Telfer and senior associates Edwin Truesdale and Jon Gaskell. They were assisted by the firm's Frankfurt and Oslo offices.

The Bank of Tokyo-Mitsubishi UFJ, Ltd provided senior debt and bonds. Union Bank was the security trustee.

Natasha Luther-Jones, partner at DLA Piper, said: "This deal is a great demonstration of how DLA Piper can deliver projects seamlessly on an international basis and we are pleased to be contributing to the UK's increasing renewable energy mix."

Matter Type
Asset Sale: Acquiror's Counsel
Industry
Fund/Investment Management
News Category
Energy, Utilities & Natural Resources
M&A