A cross-departmental Burges Salmon team has advised longstanding client, Albion Community Power (Albion), on the £56.8 million financing of its 18MW portfolio of renewable energy projects situated in England, Wales, Scotland and Northern Ireland. Albion builds, owns and operates a range of renewable energy projects using proven technologies including hydroelectricity, on-shore wind, biogas and AD.
The transaction involved the issue of a combination of fixed-rate and index-linked loan notes to a syndicate of subscribers arranged by an institutional investor backed up with asset level security across the portfolio.
Burges Salmon partner Euan Bremner led the team advising Albion on the transaction assisted by senior associate Luke Addison on the financing documents and senior associate Kathryn Smith on due diligence.
David Gudgin, Partner at Albion Capital says: “We have worked with Burges Salmon, and Euan in particular, to build up the portfolio so it was an easy decision to work with him and the whole of the Burges Salmon team to refinance the assets. The transaction involved not just their excellent Banking team but also other Burges Salmon specialists across their Energy team and being able to bring these specialists together really helped get the deal done.”
Euan says: “We have worked with Albion Community Power for many years and are delighted that they put their trust in Burges Salmon to deliver this strategically important financing. Albion has an enviable 10-year track record in the renewable energy space and I am delighted that we have been able to bring this transaction to a successful conclusion for a key client.”
Euan was supported by Kathryn and Luke, as well as Elin Blundell, Daniel Ballard, Owen Watkins, Charlotte Robinson, Gregory Nash and Claire Batty from across the firm’s Corporate, Banking, Real Estate, Projects and Construction teams.