Watson Farley & Williams (“WFW”) advised Invenergy on the financing of the Pencloe onshore wind farm in western Scotland, its largest developed project in the UK. The financing comprised term loan, debt service, VAT and letter of credit facilities.
Invenergy and its affiliated companies develop, build, own and operate large-scale renewable and other clean energy generation, transmission, clean hydrogen, and storage facilities in the Americas, Europe and Asia.
The WFW London Energy team that advised Invenergy was led by Global Energy Sector Head and Head of the London Projects Group Henry Stewart, working closely with Counsel James Harrison and Associate Oli Baines on the project finance aspects of the transaction. Partner Emmanuel Ninos and Associate Elizabeth Gillespie advised on project development diligence matters, with Associates Jo Strachan and Kristina Buckberry providing energy regulatory and hedging expertise respectively.
Henry commented: “We are delighted to have advised Invenergy on this milestone financing for their expansion across the UK market. It marks a further step towards the UK’s clean energy transition and a much-needed boost to the country’s onshore wind capabilities. Being selected for this mandate highlights our wealth of experience advising on key project finance projects in the wind energy sector”.
