NEWS

Wind Turbine Blades

WFW advises Falck as sponsor on debt financing of 15 MW onshore wind farm in South Lanarkshire

19 May 2014

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce it advised European renewable energy producer Falck Renewables SpA, acting through its English subsidiary Falck Renewables Wind Limited (“Falck”), as sponsor on a £23 million term facility made available by UniCredit Bank AG, London Branch, in relation to the Nutberry wind farm.

The facility was provided to Nutberry Wind Energy Limited, a subsidiary of Falck, and will finance the construction, development and operating fees and costs incurred in respect of the wind farm. The wind farm is located near Nutberry Hill, South Lanarkshire, Scotland, and has six turbines with an electricity generating capacity of 15MW. Construction work commenced in 2012.

WFW advised Falck on legal matters relating to the negotiation of the finance documents and certain of the project documents. The firm has a long-standing relationship with Falck, having advised it on numerous matters dating back to 2004.

Falck is an independent renewable energy power producer, focusing on the development and operation of wind, solar, biomass and waste-to-energy assets in the UK, Italy, France and Spain, with a total installed capacity of 731MW.

WFW’s London-based team was led by finance partner Mark Lawson. He was supported from within Falck by Davide Sala, Falck’s internal counsel, who worked closely alongside WFW in all legal and commercial matters, and by WFW senior associates Iris Wong (Finance) and Joe Hesketh (Energy & Projects) and associates Gareth Lond (Finance) and Michael Kruger (Energy & Projects). WFW Hamburg provided German law advice and was led by partner Stefan Kilgus , supported by associates Alexander Nefzger and Pascal Unger (Project & Structured Finance).

WFW London partner Mark Lawson, commented: “The hard work, persistence and excellent relationship between Watson, Farley & Williams, Falck, UniCredit and their advisors over several months ensured a successful outcome. It was particularly important for all parties to work together flexibly and diligently to achieve financial close after overcoming some unforeseeable external technical and commercial challenges.”