Leading Scottish law firm Harper Macleod has advised MYTILINEOS, one of Greece's leading industrial companies, on a partnership with Elgin Energy to develop two subsidy-free solar PV projects.
Elgin Energy is one of the leading solar development platforms across the UK and Ireland, while METKA EGN, MYTILINEOS’ Renewables and Energy Storage (RSD) Business Unit, is a world-class solar developer.
The two Scottish projects will total 26MW, with another project in England of 49.9MW. Once energised, the projects will provide enough cost competitive renewable electricity to power more than 25,000 homes and offset 42,000 tons of carbon emissions in the UK annually.
The Harper Macleod team was led by renewables specialist Omar Ali, a Partner in the Energy & Natural Resources team, supported by Partner James MacGregor, Associate Rachel McNeil from the Corporate team and Partner Peter Ferguson in the Planning team.
Omar Ali said: "Solar PV has proved itself to be a cost-effective renewable energy technology and it is fantastic to see projects of this scale progress. Scotland and the UK have ambitious carbon emission targets which require immediate action and development if they are going to be met. Solar is renowned as a quick, clean way to produce energy on a significant scale and we are delighted to have played a part in getting these projects underway."
James MacGregor said: "We are delighted to have assisted with the successful completion of these projects and to see transactions of this scale continuing to be progressed in the current climate."
Nikos Papapetrou, General Manager of the RSD Business Unit said; “We are pleased to partner with a progressive solar developer like Elgin Energy where our significant experience and engineering capability can help successfully integrate more renewable power to the UK grid. The acquisition of these projects will also consolidate our position in the UK market.”