Norton Rose Fulbright has advised Greencoat UK Wind PLC (Greencoat UKW), the leading listed renewable infrastructure fund, in connection with a £340 million equity offering which forms part of Greencoat UKW’s new share issuance programme and the acquisitions in 2017 of eight wind farms:

    five wind farms (80% stake in Deeping St Nicholas – 16.4MW, Red House – 12.3MW, Glass Moor – 16.4MW, Red Tile – 24.6MW and Bicker Fen – 26.7MW) from EDF Energy Renewables for a total consideration of £98 million;

    two wind farms (North Hoyle – 60MW and Slieve Divena – 30 MW) from institutional investors advised by JP Morgan Asset Management for a total consideration of approximately £105 million; and

    Bishopthorpe wind farm (16.4MW capacity) from BayWa r.e. for a total consideration of £47 million.

Norton Rose Fulbright has advised on all seven of Greencoat UKW’s fundraisings. Greencoat UKW has a market capitalisation of approximately £1.25 billion and joined the FTSE 250 in September 2016 (under four years after its establishment and IPO in 2013). The most recent transactions are the first deal with EDF representing a third major utility partnership alongside Innogy and SSE.

Michael Newell led the team on the share issuance programme and equity raise, assisted by associate Rickard Lilliestierna. The acquisition team was led by partner Stephen Rigby and included senior associate Keith Law and associate Alex Wills.

Norton Rose Fulbright provides the full spectrum of legal services in the renewable energy sector, including advice and representation with respect to project development and financing, new supply, negotiation of power purchase agreements, acquisition of project facilities, and all related commercial and regulatory issues.