Gowling WLG has advised AIB Group (UK) plc (AIB), as lender, on the project financing of LED lighting systems for social housing across the UK.
AIB is providing a £15 million term loan facility to Boxed Light Services Ltd to part finance the installation and operation of multiple LED lighting systems.
The Gowling WLG team was led by projects partner, Jonathan Brufal and finance partner, Nath Curtis. Associates Carrie Davis and Naomi Sander were the lead associates on the project aspects and finance work-streams, respectively.
Jonathan Brufal commented: "We are extremely proud to have advised AIB on this latest renewable energy project financing. The deal is significant in driving energy-saving, low-carbon communal lighting solutions across social housing sites in the UK, whilst reducing risk and improving cost efficiencies for landlords and residents. We're pleased to continue our support to AIB and look forward to working with the company on future projects to drive sustained renewable energy sector growth."
Earlier this year, Gowling WLG advised AIB Group (UK) plc on the £15.5 million project financing of seven hydro power schemes in Scotland, with a combined capacity of 6.5 megawatts - one of the largest privately owned hydroelectric resource projects under development in the region.
Gowling WLG's sector-focused Energy group advises on all aspects of energy projects in the UK and abroad. We advise governments, regulators, project developers, network companies, financial institutions and investors, energy suppliers and traders, technology companies and the sector supply chain among others.