Global law firm Norton Rose Fulbright has advised National Australia Bank Limited (NABL) on the financing of a portfolio of solar and wind projects in the UK, owned by Cubico Sustainable Investments Limited.
The first phase of financing comprised two wind and two solar projects with the second phase of financing, which reached financial close on 15 June 2016, adding seven solar projects to the portfolio. It has a combined capacity in excess of 123MW.
Rob Marsh, partner, Norton Rose Fulbright, comments:
“This has been a complex and exciting transaction. The portfolio consists of projects eligible for Feed-in Tariffs and Renewable Obligation accreditation, with the financing also building in future project accession mechanics.
“It is another example, among a number of recent transactions we have closed, that the project finance market in UK renewables remains strong for good projects backed by stable sponsors.”
The Norton Rose Fulbright team advising NABL included: partner Rob Marsh, senior associate, Sarah Brogan and associate, Melusi Dlamini; partner Wasim Khan leading on real estate maters with Elizabeth Paley, Juliette Kelly, Emily Colville and Hattie Way; partner Duncan Field advising on planning aspects, assisted by Victoria Watson; Daniela Schluckebier and Charlotte Brown on the hedging aspects; and Tim Baines leading one the due diligence process with assistance from Dan Newcombe.
Norton Rose Fulbright’s practice is ranked in Tier 1 for Power (including electricity nuclear and renewables) in the leading legal directory, Legal 500 2016, and recently advised on the financing of the £2.6bn Beatrice offshore wind farm in Scotland.
For further information please contact:
Meeta Vadher, Senior PR Manager
Tel: +44 (0)20 7444 3097; Mob: +44 (0)7595 886 276
Notes for editors:
Norton Rose Fulbright is a global law firm. We provide the world’s preeminent corporations and financial institutions with a full business law service. We have 3800 lawyers and other legal staff based in more than 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.
Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare.
Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.
For more information about Norton Rose Fulbright, see nortonrosefulbright.com/legal-notices.