22 September 2023

Independent UK law firm Burges Salmon has advised The Wales Pension Partnership (WPP), a collaboration of the local government pension schemes in Wales, on its £68 million investment into a portfolio of onshore wind projects located across Wales. The transaction was managed by independent global private asset management firm Capital Dynamics.

Once operational, the Portfolio, which is being developed by Welsh renewable energy business Bute Energy, is expected to deliver approximately £800 million of Community Benefit Funding and will generate enough clean, green electricity to offset more than 2.6 million tons of CO2 emissions a year – the equivalent to ca.7% of Wales’ total greenhouse gas emissions.

The projects that WPP is investing in will contribute to the Welsh Government’s targets for electricity to be 100% renewable by 2035 as well as targets for 1GW of renewable electricity and heat capacity to be locally owned by 2030.

The Burges Salmon team advising WPP was led by partner Malcolm Donald from the firm’s Corporate Group.

Malcolm Donald comments: “It has been a pleasure to work with WPP on this important investment which highlights the attractiveness of Wales for the development of onshore wind projects that support renewable energy generation and sees more investment into rural communities across Wales.”

Anthony Parnell, Treasury and Pension Investments Manager at Carmarthenshire County Council, the host authority for the WPP adds: “With this project, our ambition is to deliver ethical investments and contribute to the wellbeing of future generations in Wales – as well as meet Welsh Government targets on local and shared ownership of renewable energy projects. Burges Salmon’s understanding of the renewables sector was invaluable in guiding us through this process and we’d like to thank Malcolm for his support.”

Burges Salmon has a strong Corporate practice in the UK advising domestic and international clients, particularly in the energy, healthcare, life sciences and financial services sectors. The firm has over 20 years’ experience advising on renewable energy projects and is widely regarded as one of the sector’s leading firms.

Key contact

Malcolm Donald Web Profile

Malcolm Donald Partner

  • Mergers and Acquisitions
  • Joint Ventures
  • Energy and Utilities

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