Norton Rose Fulbright has advised Greencoat UK Wind plc (Greencoat) on two acquisitions for its portfolio of operational UK wind farms, a debt facility and its proposed equity capital raise of up to £135 million.

Greencoat is an infrastructure fund managed by Greencoat Capital. In October 2013 Norton Rose Fulbright advised Greencoat on the £63.6m acquisition of two wind farms from BayWa r.e. renewable energy GmbH and, in November, on the £70.6m acquisition of a 49% interest in two wind farms from RWE. Following these acquisitions, Greencoat has investments in ten wind farms in the UK with a net generating capacity of 184.0MW. Norton Rose Fulbright also advised Greencoat on a new debt facility to fund the acquisitions.

The equity capital raise by way of a proposed placing, offer for subscription and open offer of new shares will be used to refinance the debt facility.

Teams led by Stephen Rigby and Andrew Hedges advised on the acquisitions, and a team led by Mike Newell and Cathy Pitt advised on the equity capital raise. Simon Currie, Global Head of Energy, led the team advising on the debt facility. Keith Law, Jessica Bethell-Jones, Suncica Miletic, Helen Winward, Annie Scrimshaw, Tim Baines, Rob Currall, Simon Rowson, Nick Harmes and Tom Hobart formed the core team of associates who assisted.

Norton Rose Fulbright’s work follows on from advising Greencoat on its £260 million IPO in March 2013 and simultaneous acquisition of its seed portfolio of six wind farms from SSE and RWE.