Info
Info
News Article

TLT Supports Innova Energy On Acquisition Of Solar Plant Powering Coca-Cola

News

Antonia Silvestri, partner at TLT

UK law firm TLT has advised Innova Energy on the acquisition of a 5MW operating solar plant which supplies the largest soft drink bottling facility in Europe operated by Coca-Cola European Partners (CCEP).

The solar plant in Wakefield, West Yorkshire, was commissioned in 2017 and accredited by Ofgem at 1.2 ROCs. It covers approximately 20 acres and is connected by a 4,300m long private wire cable to the bottling facility. Innova has agreed to work with CCEP to increase the capacity of the solar plant to 8MW by the end of the year, using the latest available technology.

This acquisition brings the total installed capacity owned and by operated by Innova Energy to 60MW and is in line with Innova's strategy to invest in quality assets that offer opportunities for further operational optimisation and value creation.

The TLT team was led by corporate partner Antonia Silvestri, supported by chartered legal executive Nick Rains, real estate partner, Nick Shenken, commercial and regulatory legal director, Stuart Urquhart, planning legal director Fergus Charlton, real estate associate, Alex Tomlinson and real estate solicitor Andrew Brown.

The acquisition required TLT's clean energy specialists to draw on their in-depth sector knowledge and specialist experience of corporate PPAs. The team carried out due diligence in respect of corporate, property, planning, commercial and construction matters and advised on the corporate transaction documents.

Antonia Silvestri, partner at TLT, says:

“For many large organisations entering into a corporate PPA is a way of managing energy costs and reducing carbon footprint by securing energy from a renewable source. We're likely to see more interest in this type of arrangement over the coming months as companies review their net zero strategy.

“In addition, as more of these projects come to market investor activity is likely to also increase - a scheme with a corporate PPA already in place has revenue security which makes it a considerably attractive proposition. With ROC and FIT projects coming to market less frequently, subsidy-free schemes backed by a Corporate PPA may become the new low-hanging fruit.”

Andrew Kaye, Co-founder and Director of Innova Energy says:

“This deal exemplifies our commitment to supplying locally generated, green power to industrial and commercial customers. With solar plants already supplying Greenyard Frozen, Williams Refrigeration, Kallo Foods, John Lewis and Waitrose, this is a fantastic addition to our portfolio.

“We are grateful to the TLT team for their flexible support and commercial approach in this strategic acquisition.”

TLT Advises Innova Energy On £30m Refinancing Of 57 MW Solar Portfolio
Low Carbon Develop UK’s Largest Community-owned Solar Park
Power Roll Trials Solar PV To Power Up Himalayan Villages
FRV And Harmony Energy To Develop Second UK Utility Scale Battery Project
FIMER Powers UK Largest Rooftop Solar Project
Everoze Creates Skyray To Design And Engineer Great Solar PV Projects
NextEnergy Capital Acquires Its First Asset In Portugal 17.4MWp Solar PV Project
SOLARWATT Links With Easy Roof To Provide Building-integrated PV For Better-looking Buildings And Smart EV Charging
Sharp Launches New 440W Half-cut Cell PV Panel
UK'S Largest Battery Ready To Balance The Grid
Sunstore Solar Launches WattGrid, A New Range Of Turnkey Off-grid Power Systems
Schneider Electric Reopens Telford Electrical Safety Training Centre
Going Green In Lancashire – Hundreds Of Houses Installed With Solar Panels In Ground-breaking Project
Solar Power As Rental Offer Launched By Aggreko
Sonnedix Named ESG Global Solar Power Generation Sector Leader By GRESB
TLT Advises Santander On 30MW Flagship Battery Storage Project
Tandem PV Devices Feel The Heat
New Innovation Set To Change Renewable Energy Market
Ingenious Invests In Electric Vehicle Charging Firm
Habitat Enerdy Enters Balancing Mechanism With Largest Battery
Encore Energy Supports Green Homes Grant Scheme
UK Green Tech Company Myenergi To Double Workforce By 2021
Analysis Of UK Commercial Roof Space Shows Solar PV Film Can Achieve Net Zero Without Greenfield Sites
Oakapple Renewable Energy Appoint Stuart Gentry To Head Business Development

Info
Info
×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the Smart Solar Magazine, the Smart Solar Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
 
X
Info
X
Info
{taasPodcastNotification} Array