Wragge Lawrence Graham & Co's energy team has advised Primrose Solar on its acquisition of a 9.5MW solar farm under construction at Wilton Farm, Cornwall.
The acquisition, from Gamma Solutions, takes Primrose's portfolio to 10 solar farms, representing 184 MW of total capacity, all either operating or under construction. Gamma will be responsible for the construction, management and operation of the Wilton Farm site.
Corporate energy director Gareth Baker led a cross-firm team of specialists on the deal, which was successfully closed in just two and a half weeks.
Gareth explained: "With the ROC eligibility window closing at the end of next month, it was essential to work quickly so that all parties could focus on getting the project connected to the grid as soon as possible. We fielded a team of experts, working around the clock, to ensure success for Primrose, a client with whom we've worked closely on many projects."
Experts from corporate, construction, real estate, planning and tax worked with Gareth on the deal.
These included partners Derek Goodban and Paul Green , directors Helen Emmerson and Graham Wrigglesworth , senior associates Paul Harrington and James Stanier , as well as Ross Mackay in the Corporate team.
Giles Clark, Primrose Solar CEO, said: "Once again, the Wragge Lawrence Graham & Co team has proved that it has the depth of resource and expertise, plus the specialist knowledge of the solar energy market, to successfully close challenging and time-critical transactions.
"We look forward to continuing to work with the firm as we develop and extend our portfolio of solar farms, with the aim of making positive contributions to local and national renewable energy targets and reducing carbon emissions."
Wragge Lawrence Graham & Co's 70-strong Energy team, named 'firm of the year' in the regional 'Projects, energy and natural resources' category in Legal 500 2013, has industry-leading reputation in UK and international energy transactions, structured financing, regulation, transactional energy work and energy trading.
Primrose Solar is a partnership between specialist PE investor Pioneer Point Partners and NYC-headquartered global investment manager, York Capital Management. Wragge Lawrence Graham & Co has a longstanding relationship with Primrose Solar, having previously advised on two refinancing deals worth £60 million and has assisted the client in closing four previous acquisition transactions.
Alexandra Watson of Michelmores and Dentons acted for Gamma.