Bond Pearce

We have advised REG Windpower on the project financing of three operational wind farms in Cornwall, County Durham and Rotherham. The fifteen-year project finance agreed with The Co-operative Bank will provide REG with a further £25 million for investments in new projects.

This deal follows the recent project finance deal that Bond Pearce advised REG on in June 2011, which secured a £12 million project financing of five operational wind farms.

Corporate Finance Partner Sebastian Briggs led the team who advised REG. He says: "We are very pleased to have worked with REG on this new financing to support them towards achieving their commitment to the renewable energy sector.  The fact that REG have been able to secure this additional funding in the current economic climate reinforces the quality of their development team."


 

Andrew Whalley, Chief Executive Officer of REG, said: "The equity released will be reinvested in new projects and REG remains firmly on track to meet its stated three-year goal of committing £100m to new UK renewable energy projects by the end of 2012.  We were delighted with the service provided by the Bond Pearce team.  Their in depth understanding of the renewables sector proved invaluable to our being able to close the financing within the required timetable."

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Bond Pearce LLP is a leading commercial law firm providing regulatory, corporate, commercial, real estate and dispute resolution services to some of the UK’s pre-eminent organisations. We are recognised nationally particularly for our work in the energy, commercial insurance, real estate and retail sectors, and for our approach to client service. © Copyright 2011 Bond Pearce LLP. All rights reserved. 3, Temple Quay, Temple Back East Bristol, BS1 6DZ