ScottishPower Renewables’ Acquisition of Elgin Energy’s UK Solar Portfolio

In UK DLA Piper, advised on the matter.

DLA Piper advised Elgin Energy with a team including Stephen Atkinson (Energy & Infrastructures), Howard Bassford (Energy & Infrastructures), Rhys Davies (Energy & Infrastructures), Natasha Luther-Jones (Picture – Energy & Infrastructures).

Elgin Energy, a leading international independent solar and storage developer, executed the sale of a 519MW portfolio of solar PV projects and 70MW of co-located energy storage capacity to ScottishPower Renewables (UK) Limited, a wholly-owned subsidiary of global utility Iberdrola Group, one of the world’s largest energy companies.

The portfolio sale marks the UK’s largest solar PV transaction to date, consisting of 12 projects at the pre-construction stage located across England, Wales and Scotland, with a combined capacity of 519MW. The portfolio also includes a co-located 70MW battery solution that is at an advanced stage of development. It is anticipated that the projects will be operational between 2023-2025.

The portfolio will be the largest to be delivered in the UK’s post-subsidy market, demonstrating the key role that solar PV combined with storage will play in the UK’s future generation mix, providing flexible and competitive renewable energy.

The DLA Piper team was led by partner Natasha Luther-Jones (Picture). The team also included Tom Metcalfe (Associate), Stephen Atkinson (Partner), Simon Winterburn (Senior Associate), Megan Williams (Associate), Howard Bassford (Partner), Michael Greig (Legal Director), Pieter Claussen (Senior Associate), Rhys Davies (Partner) and Daniel Crichton (Trainee Solicitor).

Involved fees earner: Stephen Atkinson – DLA Piper; Howard Bassford – DLA Piper; Pieter Claussen – DLA Piper; Rhys Davies – DLA Piper; Michael Greig – DLA Piper; Natasha Luther-Jones – DLA Piper; Tom Metcalfe – DLA Piper; Megan Williams – DLA Piper; Simon Winterburn – DLA Piper;

Law Firms: DLA Piper;

Clients: Elgin Energy;

Author: Giulia Di Palma