Gowling WLG's Energy team, led by partner Gareth Baker, together with a wider group of sector experts, has advised Innova Energy on its acquisition of a 5MW ground mounted solar farm in East Codford Farm, Warminster.
The acquisition of the solar farm (commissioned in 2016) completed in October 2017, and represents the latest acquisition for Innova Energy in the sector, who are working with the Gowling WLG team to continue to build their portfolio of ground-mounted and rooftop solar assets.
With distributed generation and clean energy once again a centre of government policy focus (the latest being the announcement of the Clean Growth Strategy), the efforts of innovative energy providers on the market have been highlighted. An active company in the sector, Innova has completed its first funding round and is seeking to acquire circa £100 million of solar assets by the end of Q2 2018, and their latest acquisition will make a significant contribution to this target.
The Gowling WLG team comprised energy specialists from across the firm, including Gareth Baker, Mark Knight and Fabiano Iesini (Corporate), Zoe Fatchen and Tom Rank (Tax), Helen Emmerson and David Barry (Real Estate), Derek Goodban and James Stanier (Regulatory) and James Bruce (Construction).
Commenting on the transaction, Gareth Baker said:
"Innova's continuing efforts to bring forward sustainable energy projects to the UK are to be commended and we are proud to support a new client in this sector."
Robin Dummett at Innova, also commented on the acquisition: "We are very pleased to have acquired yet another asset to add to our growing portfolio, bringing us closer to achieving our short-term acquisition goals. We look forward to continuing our work with the leading Energy team at Gowling WLG in realising our investment targets and growth strategy into 2018."
Gowling WLG's sector-focused Energy team offers clients pro-active, commercially-focused and innovative solutions - wherever they are in the world. Their extensive UK and international client base includes governments and regulators, developers, financial institutions, generators, network operators and energy suppliers and traders.
