International law firm Gowling WLG has advised Brockwell Energy on its sale of the Broken Cross onshore wind farm development to global renewable energy developer, service provider and distributor BayWa.
The Broken Cross wind scheme is a ten turbine, 48MW project located on a former coal mining site next to Coalburn in South Lanarkshire. The sale is after an extensive re-design of the project by Brockwell to increase tip-heights to allow it to be deliverable without subsidy.
The sale of Broken Cross follows the disposal of the Dalquhandy onshore wind farm development to BayWa last year, which Gowling WLG also advised on.
Alex Lambie, chief executive of Brockwell Energy, said:"We are delighted to complete a second transaction with BayWa that highlights the quality and value of the project we have developed at Broken Cross. The transaction proceeds will be reinvested to further expand our development activities at other sites and projects as we strive to deliver more projects to help achieve climate change goals. It has been a pleasure to work with BayWa on these transactions. I know they share our culture and values and will treat surrounding communities with respect and will build out the project with care and attention to all local stakeholders. We will continue to be available to provide any support required to successfully deliver the project and see this formerly derelict mine site put into use that benefits all."
Brockwell Energy CFO Iain Cockburn said: "This was another significant transaction for Brockwell and we were pleased with the excellent legal support from the Gowling WLG team, who once again helped to get this transaction closed smoothly and professionally."
The Gowling WLG team was led by partner Gareth Baker, working with corporate energy associates Ben Parker and Alex Farrow and principal associate Tom Rank.
Gareth Baker said: "Brockwell Energy are a valued client and it is always great to work with their talented team. Brockwell are both highly innovative and professional in their approach and are developing a reputation for developing and delivering high quality projects in the onshore wind, energy from waste and solar sectors. We look forward to continuing to support them."
Gowling WLG's multi-disciplinary Energy team has a market-leading reputation and operates seamlessly around the globe. The deal is another example of the team's position in the energy sector and follows a series of recent mandates in Scotland, including advising Nova Innovation Limited on a £6.4 million investment from the Scottish National Investment Bank to fund the manufacturing and distribution of its subsea tidal turbines.
The team has also advised HydrogenOne Capital Growth plc on its £107.35 million fundraise, Pioneer Point Partners on its investment into a biogas platform and Eelpower on its £100 million joint venture with NextEnergy Solar Power.
Gowling WLG was supported on Scottish Law property aspects by Burness Paull.
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