Vincents Solicitors has been appointed to act for Irish private equity investor Arena Capital on the acquisition of more than 40 wind turbines across the UK. The Lancashire law firm is handling all land acquisitions and option deals for properties in England and Wales.
Vincents has already closed the purchase of 25 turbines, at sites across the UK, and has secured options on another 17. Vincents’ commercial director Ross Wellman is also supporting the client’s corporate work with regards to share sale and asset purchases for many of the existing established turbine businesses.
The UK has increased its use of wind power to around 12 per cent of the total electricity generated, through both large-scale wind farms and one-off installations which service individual businesses or communities. One medium sized 250kW turbine can generate enough electricity to power up to 100 homes for a year. It is these independent operations which are being targeted.
Ross Wellman said: “Arena Capital is building its portfolio of renewable energy investments with a number of individual wind turbine acquisitions and option agreements. As a sustainable, clean power source, it’s clear wind is an excellent long-term investment and is set for huge growth in the future. We are pleased to be supporting Arena Capital in the acquisition of these investments.”
Arena Capital has a broad portfolio of investments on behalf of clients in Europe.
Ian Greer, Director for Arena Capital, said: “We are providing our clients with an opportunity to support the growing UK renewable sector with strong long-term investments. Wind power offers an attractive opportunity due to its competitive costs, proven technology and an ever increasing demand for the output. Together with biomass, we believe sustainable energy production is the most important growth area for UK infrastructure and we are pleased to have had the legal support from Vincents in securing these latest assets for the portfolio.”
