Burges Salmon advises Commonwealth Bank of Australia on c.£40m solar portfolio financing
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Investor confidence in UK renewable energy infrastructure remains strong, with continued demand for financing solutions that support capital recycling and future investment across the sector.
Against this backdrop, the Banking and Finance team from independent UK law firm Burges Salmon has advised Commonwealth Bank of Australia (CBA) on its debt financing to Solarplicity Debt Funding Limited, a portfolio of ground-mounted solar photovoltaic projects in which GCP Infrastructure Investments Limited (GCP Infra) is invested.
The financing introduces third-party debt to the solar portfolio and forms part of GCP Infra’s wider capital recycling strategy, generating proceeds of approximately £40 million to support future investment opportunities.
Burges Salmon advised CBA on all aspects of the transaction. The firm’s team was led by Banking & Finance partner Victoria Abbott, associate Thomas Papke and trainee solicitor Sharon Alexander. Real Estate support was provided by partner Euan Bremner and senior associate Jamie Kelman, with Projects advice from partner Alec Whiter.
“We’re pleased to have advised Commonwealth Bank of Australia on this significant financing. The transaction reflects continued investor confidence in operational renewable energy assets and highlights the important role financing can play in unlocking capital for reinvestment across the UK’s energy infrastructure sector. It was a pleasure to work alongside CBA and the wider project team to bring the transaction to a successful completion”
“This transaction represents an important financing for a high-quality renewable energy portfolio and supports our continued commitment to financing infrastructure that contributes to the energy transition. We are pleased to have worked with Burges Salmon on this multi-disciplinary transaction and greatly valued the team’s commercial approach and sector expertise throughout the process.”
Christopher Turner, Director at Commonwealth Bank of Australia
Burges Salmon has one of the UK’s leading Banking & Finance practices, advising borrowers, lenders, sponsors, funders and investors on a broad range of domestic and cross-border financing transactions. The firm is recognised for its expertise across the energy, infrastructure and real estate sectors and regularly advises on financing arrangements supporting the transition to a net zero economy.
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