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Corporate Energy Transition team advises Brockwell Holdings on acquisition of RNA-Energy
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Our Corporate Energy Transition team has advised Brockwell Holdings Ltd (Brockwell), owner of Brockwell Energy Ltd, on its acquisition of London-based renewable energy developer, RNA-Energy Ltd.
Brockwell Holdings has made a commitment to fund further development and the build-out of RNA's pipeline of solar and battery storage projects as part of longer-term investment plans for Brockwell. It marks a key milestone in Brockwell's strategy to strengthen its position as a significant player in the renewable energy sector by increasing its UK footprint and contributing to its goal of developing and building out 5GW of installed renewable generation capacity by 2030.
Corporate partner and energy sector co-leader Gareth Baker and senior associate Chelsie Taylor led the deal with diverse support from senior associate Laura Barron, associates Emily Chittick, Ruairi O'Grady and Henry Stride (Corporate); partner Paul Shaw (Tax); partner James Stanier (Grid & Regulatory); and senior associate Karin Kiho (Employment & Incentives) alongside a team of others.
Gareth Baker commented: "We are thoroughly delighted to have been selected by the Brockwell team to work with them on this significant transaction. We advised on the original sale out of the Hargreaves Services group and have since enjoyed supporting Brockwell on a range of matters including onshore wind and EfW projects. After a range of disposals, this is a significant acquisition, and we look forward to providing continued support to the projects."
Alex Lambie, CEO of Brockwell, commented: "The acquisition of RNA was a significant transaction for Brockwell and its future growth ambitions which required high quality and sector focussed legal advice. Gowling WLG delivered, and I'd like to thank the team for their hard work, responsiveness and insightful support in helping us close out this transaction."
Gowling WLG's multi-disciplinary Energy team has a first-class reputation with regard to energy transition technologies and operates seamlessly around the globe. Positioned at the forefront of the sector, the team has previously advised Brockwell Energy Limited on the sale of Westfield Energy Recovery Limited to Equitix, HydropgenOne Capital Growth plc on its participation in a €215 million Series E equity financing round, Zenobe on its additional debt for its increased capacity 300MW battery storage site in Kilmarnock, and the shareholders of FI1 Limited on the sale of their stake in the project companies that will construct and operate the first ever UK-Germany Transmission Link.
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