Osborne Clarke has advised UK energy from waste developer GreenEfW Investments on the financing of its UK energy from waste portfolio, backed by a pair of Chinese investors.

China Smarter Energy Group has entered into a co-operative framework agreement with GreenEfW to take on a 55% stake in the company, whilst Shanghai Electric will acquire a 15% interest in GreenEfW.

The first project to benefit from the financing is the MW Cornwall Bio-Park project in the village of Scorrier, a circa £21.5 million (€29.1m $32.6m) plant, which already has planning permission, which will to treat 70,000 tonnes per annum of refuse derived fuel.

Osborne Clarke are advising GreenEfW Investments on waste supply, construction, real estate, planning and financing/equity investment elements of the transaction. The team is being led by James Watson, assisted by partners, Carl Thompson, Shane Toal, Neil Bromwich and Simon Smith.