MKB Law’s Corporate Team Acts In Largest Solar PV Transaction in UK

20 January 2022
1 minute

MKB Law’s Corporate division, led by Managing Director Gordon McElroy with support from Jose Lazaro and Lynsey Henderson, were delighted to have assisted Elgin Energy in their recent portfolio sale to Scottish Power Renewables – the UK’s largest solar PV transaction to date.

The sale consists of 12 projects at the pre-construction stage located across Great Britain with a combined capacity of 519MW which. The portfolio also includes a co-located battery storage of 70MW. MKB Law’s Corporate team provided specific support around grid connection agreements in England and Wales, as well as various corporate aspects.

Elgin Energy, one of MKB Law’s long-standing clients, are a leading international and independent solar development group with a 98% success rate through planning across all its markets. Scottish Power Renewables is a subsidiary of the Iberdrola Group, a global electric utility company headquartered in Bilbao, Spain.

Gordon McElroy comments: “This deal demonstrates the ongoing commitment of both companies in ensuring solar PV and storage play a key role in the UK’s future generation mix. MKB Law is particularly pleased, not least for the opportunity to offer our services to support the burgeoning renewable energy sector, but with the UK committed to hitting a net-zero target, this deal marks a significant step forward in decarbonising the power sector.”

Our Corporate team have assisted independent international renewable companies, founders and management teams as well as their respective financial advisors in securing finance for developments of all sizes of solar PV farms across the UK and Ireland. We offer an all-round approach to the needs of our clients from the commencement of the project through to the acquisition of sites, financing, planning, grid connection and exit.

This article is for general guidance only and should not be regarded as a substitute for professional legal advice.

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