Law firm Stephenson Harwood LLP has advised the management team of Brockwell Energy Limited on its £23 million sale to two international investors.

Environment infrastructure specialist Pioneer Point Partners and global investment firm Davidson Kempner acquired Brockwell from AIM listed Hargreaves Services plc.

Brockwell was formed in 2017 to raise investment capital to develop a £800 million portfolio of energy projects, predominantly in Scotland, on and around former coal mining sites. The business has a range of energy from waste and onshore wind projects including the £150 million Earl’s Gate combined heat and power plant at Grangemouth, proposed energy from waste plant on the site of the former Westfield open coal mine in Fife and a wind farm at North Kyle in East Ayrshire.

Under the deal Hargreaves retains certain freehold land assets on which Brockwell intends to develop renewable energy assets in the future.

The Stephenson Harwood team was led by partner Ben Mercer, and included senior associate Pippa Byrne, associate Laura Anderson and trainee Se Young Kim.