ENP Newswire - 13 August 2014
Release date- 12082014 - DLA Piper has advised Bio Group Limited on the multi million pound refinancing of two anaerobic digestion gas to grid plants, Fairfield Bio Energy in Stockport and Adnams Bio Energy in Suffolk and the provision of further project finance for new facilities.
Facilities were arranged by Gravis Capital Partners LLP, which also acted as agent and security agent. The transaction involved the refinancing of existing facilities provided by The Royal Bank of Scotland plc and Finance East and the provision of additional facilities for on-going operations and the potential development of a further anaerobic digestion project.
Adnams Bio Energy was the first anaerobic digestion plant in the UK built to use food waste to produce renewable gas for injection into the national gas grid. The Fairfield Bio Energy plant has been commissioned this year and processes up to 25,000 tonnes per annum of food waste to produce over a million cubic metres of biomethane for injection into the gas grid.
The transaction involved a corporate reorganisation as each of the SPV companies operating the projects had been joint ventures.
The DLA Piper team was led by partner Natasha Luther-Jones who was supported by senior associates Laura Gordon and James Wood-Robertson, associates Rosemary Horsewood, Robert Cockburn and James Haikney and trainee solicitor Tim Martin. Advice on the corporate reorganisation was provided by partner Wendy Harrison, assisted by senior associate Greg Allsopp and trainee solicitor Luke Jackson.
Natasha Luther-Jones said: 'The success of renewable energy plants such as these is very important for diversifying the UK's energy mix. We are very pleased to have advised on this transaction which is a key part of Bio Group's expansion in the UK. '
Notes to editors
1. DLA Piper is a global law firm with 4200 lawyers located in more than 30 countries throughout the Americas, Asia Pacific, Europe and the Middle East, positioning it to help companies with their legal needs anywhere in the world.
2. For further information about our organisation and services, please visit our website: www.dlapiper.com
Amanda ButtersDLA Piper+44 (0)20 7796 6688+44 (0)7921 025 email@example.com