International law firm Gowling WLG has advised Triple Point Energy Efficiency Infrastructure Company plc (TEEC) on completing £21 million of senior debt finance into Harvest and Glasshouse.
TEEC invests in UK institutional-grade energy efficiency infrastructure assets which will result in better productivity, lower greenhouse gas emissions, and will target an attractive, long-term income source for investors with a positive impact.
Harvest Generation Services Limited and Glasshouse Generation Limited are energy generation companies which hold operational energy centres on the Isle of Wight, supplying heat, electricity and carbon dioxide to APS Salads, the UK's largest tomato grower.
The Gowling WLG team was led by Head of UK Project Finance Nath Curtis and Principal Associate Sophie Coggen, assisted by banking, real estate and energy lawyers who advised on the legal due diligence, financing documentation and unwind of the previous financing structure.
Nath Curtis, partner at Gowling WLG said: "It was exciting to work with TEEC on this first investment and we look forward to supporting them as they grow their portfolio. Our infrastructure fund client base continues to go from strength to strength as we support highly-valued clients like TEEC structure, execute and leverage investments in the UK low-carbon economy".
Jonathan Parr, head of energy at Triple Point said: "We are thrilled to have deployed these funds into Harvest and Glasshouse, two assets which deliver highly energy efficient services to a critically important UK domestic producer of essential food items. Gowlings were a natural choice for this deal given their expertise in the sector. We have a strong pipeline of investment opportunities and look forward to working with the team in future."
Visit the TEEC website to find out more about its various sustainable projects.