Burges Salmon has advised IDCM Limited acting as arranger on a £78.8 million loan facility provided by Aviva Investors for the aggregation and refinancing of a portfolio of mixed commercial ground mounted and residential commercial and domestic rooftop solar projects in England & Wales and Northern Ireland, managed by Oxford Capital Partners.
This marks the completion of the first phase of a refinancing process that involves the aggregation of a 92MWp UK Solar PV portfolio of 17 companies consisting of 37 separate ground-mounted and commercial rooftop sites, as well as over 3,100 residential rooftop installations.
Banking partner Graham Soar led the cross-firm team, which involved lawyers from banking, real estate, construction, projects and corporate.
Graham says: “We are delighted to have completed our first transaction acting for IDCM and Aviva Investors. The transaction involved a vast number of assets and entities and required close cooperation across our team and with the principals. We utilised our in-depth sector knowledge across the UK jurisdictions to help bring the deal to a successful close."