CMS has advised Harmony Energy Income Trust plc on the deal.
Harmony Energy Income Trust plc (the “Company”), an externally managed company that invests in energy storage assets in Great Britain, was granted a £60,000,000 portfolio finance facility with NatWest plc entered into with a wholly owned subsidiary of the Company. The five-year facility includes an uncommitted accordion which could increase the total amount borrowed up to £130,000,000 over time.
The primary purpose of the facility is to support the acquisition and construction of the Company’s first pipeline project (a 99 MW / 198 MWh project located in Buckinghamshire known as “Bumpers”), and the facility will be allocated and secured across all projects currently owned by the Company.
The CMS team was led by Energy Finance partner Nicholas Ross-McCall (Picture), supported by Energy partners Louise Dalton and Philip Duffield.
Involved fees earner: Louise Dalton – CMS Cameron McKenna Nabarro Olswang LLP; Philip Duffield – CMS Cameron McKenna Nabarro Olswang LLP; Nicholas Ross-McCall – CMS Cameron McKenna Nabarro Olswang LLP;
Law Firms: CMS Cameron McKenna Nabarro Olswang LLP;
Clients: Harmony Energy Income Trust plc;