Energy sector experts from Burges Salmon have advised National Australia Bank (NAB) and Santander UK on the £86 million financing of a portfolio of English onshore wind projects, owned by Banks Renewables.
The Burges Salmon team, led by banking partner Nathan Curtis, provided a wide range of legal advice over the course of the transaction. Further advice was provided from the firm’s construction, projects, planning and real estate teams.
Nathan Curtis says: “Now is a critical time for the onshore wind industry in the UK, with growing evidence that it is the cheapest form of low carbon electricity generation at scale. The case for government to reverse its current policy of discouraging onshore wind has never been stronger.
“Access to the right sort of capital for onshore wind means the secondary market remains robust, especially for well-developed portfolios such as this.
“NAB and Santander have been at the forefront of the UK renewables debt market for years and we are pleased to have supported them and Banks Renewables in successfully closing this transaction. We look forward to supporting banks in the future as they recycle the capital released by this transaction to develop further projects.”