Watson Farley & Williams (WFW) advised Elgin on a £500 million platform financing to support its pipeline of UK solar photovoltaics (PV) and co-located BESS projects. The consortium of lenders comprised NatWest, Societe Generale, BNP Paribas, Siemens Bank, and Standard Chartered.
The financing features streamlined onboarding mechanics and provides flexibility to accommodate Elgin’s future funding requirements as the platform evolves.
Elgin is a fully integrated, utility scale solar and storage independent power producer that develops, builds, owns, and operates renewable energy assets across the UK, Ireland, Germany, and Italy. Its 10 GW+ portfolio spans solar, co-located, and standalone storage projects.
The WFW London Energy team that advised Elgin was led by Global Energy Sector Head, Henry Stewart, supported by Counsel, James Harrison, and Associate, Rachel Lee. Hedging expertise was provided by Partner, Rob McBride, and Associates, Kristina Buckberry and Ambrose IP. Partner, Emmanuel Ninos, and Senior Associate, Rhiannon Elias, advised on the project documentation. Real estate advice was provided by Partner, John Rosmini, with Partner, Jean-Pascal Boutin, providing regulatory expertise. Environmental and planning advice was provided by Partner, Nick Walker, and Associate, Hamish Ungless. Partner, Richard Stephens, and Associate, Tabishe Arshad, advised on tax matters. Partner, Andy Savage, and Senior Associate, Sebastian Lello, provided corporate advice.
Stewart commented: “We were delighted to have advised Elgin on such a significant platform financing which reflects both the scale and quality of its development pipeline and long term ambitions as an integrated solar and storage developer. The facility has been designed with Elgin’s future growth firmly in mind, providing the flexibility needed to support the continued build out of its UK portfolio. WFW has an excellent track record advising on big-ticket energy projects and this transaction highlights why the firm is a leader in this space.”
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