Osborne Clarke and Michelmores advised Triple Point Energy Efficiency Infrastructure on the deal.
Triple Point Energy Efficiency Infrastructure (TEEC) acquired a portfolio of operational, run-of-river hydroelectric power generation assets in Scotland with a total installed capacity of 4.1 MW. The assets are all FIT accredited, with five years or more of operational performance and were acquired for an aggregate consideration of £26.6m (excluding costs).
A multidisciplinary team of Osborne Clarke energy specialists acted on the transaction, including corporate and finance advice as well as a team looking at each of the project’s contractual arrangements across operation and maintenance, grid connection, subsidy accreditation and offtake. The team was led by Head of Decarbonisation James Watson (Picture) and Partner and UK Head of Energy and Utilities Sector Matthew Lewis, supported by Associate Director Amy Stray, Finance Partner Jakub Kubicki and Associates Shraiya Thapa and Giles Herring from the Projects team and Senior Associate James Archer and Associate Liam O’Connor from the Corporate team. Senior Associate Helena Zaba from the Tax team also provided tax advice and Morton Fraser advised on the Scots law aspects of the transaction.
Partner, Alexandra Watson led the Michelmores team and was supported by Adam Quint, Anthony Reeves and Hamish Scott.
Involved fees earner: Adam Quint – Michelmores LLP; Anthony Reeves – Michelmores LLP; Alexandra Watson – Michelmores LLP; James Archer – Osborne Clarke; Giles Herring – Osborne Clarke; Jakub Kubicki – Osborne Clarke; Matthew Lewis – Osborne Clarke; Amy Stray – Osborne Clarke; Shraiya Thapa – Osborne Clarke; James Watson – Osborne Clarke; Helena Zaba – Osborne Clarke;