Harper Macleod has advised The Renewables Infrastructure Group Limited (TRIG) on the acquisition of Neilston Community Wind Farm in East Renfrewshire.
The four-turbine, 10MW wind farm was acquired by the renewable energy investment fund from developer Carbon Free and the Neilston Development Trust (NDT), which held a 28% share of the project, for £22.6 million.
The Project, which has operated since 2017, has been accredited under the UK’s 20‐year 1.0 ROC per MWh support scheme and beneﬁts from a power purchase agreement with Statkraft.
Harper Macleod's renewables specialists, named Energy Team of the Year at the recent Scottish Legal Awards, worked with international law firm Osborne Clark on the deal, with Harper Macleod advising on the Scottish property and planning aspects of the deal, while Osborne Clarke carried out the corporate work on behalf of the client. David Bone, Partner and Head of Energy & Natural Resources at Harper Macleod, led on the property work with fellow Partner Peter Ferguson leading on planning.
Last year the firm carried out a similar role in relation to InfraRed Capital Partners acquiring the £78m Afton Wind Farm in south west Scotland.
David Bone said: "We are delighted to have played a part in this transaction, which demonstrates both the value of renewable energy projects to local communities and the value of the secondary market in onshore wind farms in Scotland. The industry continues to evolve, and clearly remains an attractive proposition for investors."
The NDT announced that it will use the surplus from their share in the wind farm to start a charitable fund to invest in the long term future of the Neilston area by supporting local facilities, services, jobs and community life.