LONDON – Bracewell (UK) LLP advised British Solar Renewables (BSR) on one of the largest hybrid portfolio financings for UK renewable energy projects, funding the development and construction of solar and battery energy storage systems (BESS) to help meet the UK’s net zero targets.
BSR have secured a senior, flexible, structured £335 million debt facility from a consortium of banks, including Lloyds Bank, NatWest, Commonwealth Bank (CBA) and Landesbank Baden-Württemberg (LBBW). The financing includes restructuring of the existing senior project facility and firmly positions BSR to become one of the leading integrated power producers within UK.
This comes as the UK intensifies efforts to reach its legally binding 2050 net zero target and navigate energy security challenges.
The portfolio of 12 projects has a combined generation of 600 GWh annually. The projects will save 140,000 CO2 emissions each year and generate enough clean electricity to power approximately 160,000 UK homes annually.
Bracewell lawyers involved in the transaction include:
Partners: Gordon Stewart, Tom Jamieson and Tom Swarbrick
Counsel: Leslie Hansen
Senior Associate: Mark Kahn
Associate: Brandon Price
Paralegal: Ruth Townsend
