International law firm Bird & Bird has advised Pioneer Point Partners, a private investment partnership that specialises in infrastructure assets in the energy and environmental sectors, on the acquisition of UK energy platform, Brockwell Energy Limited.
Brockwell Energy Limited has a range of energy-from-waste and onshore wind projects in Scotland with a potential capital value of £800 million. Pioneer acquired Brockwell in partnership with global investment firm Davidson Kempner.
The Bird & Bird team advised on the corporate, projects and project finance aspects of the transaction. This included the acquisition documentation, the on-going project arrangements with Brockwell management as well as the projects, construction and finance documentation. Brodies assisted Bird & Bird on the Scottish law real estate and environmental aspects of the transaction. The Bird & Bird team was led by London partner and head of corporate Matt Bonass and Elizabeth Reid (projects) and were assisted by a cross practice group team of Isabel Evans, Jennifer Bird, Zoe Feller, Levent Gurdenli, Richard Bloomfield, Amy Barlow, Freddie Spearman and Andrew Rink.
Rupert Shaw, partner at Pioneer Point Partners says: "It has been a pleasure to work with the team at Bird & Bird. They are a very cohesive corporate and projects team - their support and ability to manage various stakeholders helped us complete the transaction with ease and efficiency. We have worked together with Bird & Bird in the UK and Germany for several years and we look forward to working together again in the future."
Matt Bonass and Elizabeth Reid, lead partners, Bird & Bird commented: "This transaction is one of a number of large infrastructure projects that the corporate and energy infrastructure projects team at Bird & Bird have advised on both in the UK and internationally. The project signifies a growing trend of the regeneration of industrial sites with the use of large-scale on-site energy from waste CHP. The sale of this well-managed, diverse Brockwell energy platform is a very positive step forward for the growth of the UK renewables & cleantech market."