UK Power Networks Services on its acquisition of SEEIT Sol Limited

3 minute read
13 May 2024

Our Energy Transition team has advised UK Power Networks Services on its acquisition of SEEIT Sol Limited, a 70-asset solar, wind and hydro portfolio from SDCL Energy Efficiency Income Trust (SEEIT).

UK Power Networks Services, the the private networks business of network operator UK Power Networks, acquired the 68.7MW portfolio in a deal worth £90.8 million. The predominantly solar asset portfolio is spread across 70 sites in the Northwest of England.

The team which advised on the transaction was led by senior associate Alex Farrow alongside corporate partners Gareth Baker and Madhu Jain. They were supported by, among others, associate Henry Stride and trainee Christy Morgan (Corporate); partner James Stanier and associate Russell Evans (Energy); principal associate Mike Jack (Projects); senior associate Sarah Lees (Property); Kimi Shah and Sarina Mann (Finance); and Sanjay Mehta (Tax).

Gowling WLG's multi-disciplinary Energy Transition team has a first-class reputation with regard to renewable and clean energy and operates seamlessly around the globe. Positioned at the forefront of the renewables sector, the team has been advising on transactions across a range of energy transition technologies, including Brockwell on its acquisition of London-based renewable energy developer, RNA-Energy Ltd; Pacific Green on its agreement to sell its 99MW Richborough Energy Park Battery Development for £74 million; and Island Green Power and its shareholders on an agreement to sell a 50% stake in the business to Macquarie Asset Management. The team was also recently named by Inspiratia as the top UK hydrogen project adviser for the period of 2020-2023.

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