DLA Piper advises lenders on two solar energy projects in Ireland under RESS 1
DLA Piper has advised Coöperative Rabobank U.A., Landesbank Baden-Württemberg and Norddeutsche Landesbank Girozentrale as the lenders to Highfield Solar Limited in the financing of two separate solar energy projects in Ireland with a total capacity of 282 MWp.
Highfield Solar Limited is a joint venture between ib vogt GmbH, Highfield Energy, and Aura Power. The projects secured capacity under the recent Renewable Energy Support Scheme 1 auctions in Ireland, and are a substantial addition to Highfield Solar Limited's existing and under development Irish asset portfolio. DLA Piper provided cross-border, complex advice for the full suite of workstreams in the project, including finance, projects due diligence, real estate and hedging.
Commenting on the deal, Global Co-Chair of Energy and Natural Resources Natasha Luther-Jones, said: "We are delighted to have advised Landesbank Baden-Württemberg, Norddeutsche Landesbank Girozentrale and Coöperative Rabobank U.A. on such milestone projects in the Irish renewables market. RESS 1 is a major step in achieving Ireland’s target of at least 70% renewable electricity by 2030. Advising two German banks and a Dutch bank on cutting-edge developments in the Irish renewable energy market showcases the depth and breadth of expertise within our global team".
Commenting on the deal, Graham Quinn, Partner and Head of Real Estate in Ireland said: “DLA Piper Ireland is delighted to have worked with our international colleagues, advising Landesbank Baden-Württemberg, Norddeutsche Landesbank Girozentrale and Coöperative Rabobank U.A. on two significant projects that will have a profound impact on the Irish solar energy market and more broadly, Ireland’s sustainability targets. Working together with colleagues across various regions and drawing on DLA Piper’s depth of global sector expertise in the energy market allowed us to provide comprehensive, end-to-end advice on all aspects of the project from finance to real estate - a service that is unrivalled in the Irish market.”
Key members of the multijurisdictional DLA Piper team included: of counsel Felix Ndi-Obiosa (Finance & Projects, London), senior associate Robert Cockburn (Finance & Projects, Leeds), associate Adiya Gokarn (Finance & Projects, Leeds), associate Natalie Webb (Finance & Projects, Leeds), senior associate Jeremy MacIver (Finance & Projects, London), senior associate Jacques Camilleri (Finance & Projects, Leeds), associate Emma Whitfield (Finance & Projects, Leeds), associate Sophie Linnell (Finance & Projects, Leeds), partner Conor Houlihan (Finance & Projects, Dublin), partner Graham Quinn (Real Estate, Dublin), partner Kate Curneen (Finance & Projects, Dublin), legal director Eileen Johnston (Finance & Projects, Dublin), legal executive Bernie Gallagher (Real Estate, Dublin), counsel Robert Hofbauer (Finance & Projects, Frankfurt), senior associate Gabriela von Wietersheim (Finance & Projects, Cologne), partner Andreas Gunst (Finance & Projects, Vienna), senior associate Kenneth Wallace-Mueller (Finance & Projects, Vienna), legal director Marcus Lovatt (Finance & Projects, London) and associate Dolapo Oshin (Finance & Projects, London).