DLA Piper advises Rabobank on GBP38 million debt financing for UK solar and wind assets

DLA Piper has advised long-standing client, commercial lender and financial services provider Rabobank U.A. on its provision of approximately GBP38 million in debt financing to NTR, vis-à-vis its sustainable infrastructure fund the NTR Renewable Energy Income Fund II.

The financing will support NTR’s construction and commissioning of a 58.8MWp solar farm at Ockendon, Essex, providing the BT Group with renewable electricity for a term of 10 years (Ockendon Solar Farm), as well as a 21.6MW ready-to-build wind farm at County Tyrone, Northern Ireland (Murley Wind Farm). Once both the Ockendon and Murley sites are fully operational, they will have a combined capacity of over 80MW. It is estimated that together the projects will produce enough renewable energy to serve over 37,000 homes from Q4 2023.

Natasha Luther-Jones, International Head of Sustainability and ESG, and Global Co-Chair of the Energy and Natural Resources team at DLA Piper, comments: “We’re thrilled to have advised Rabobank in its role in this wind and solar financing. The team continues to advise on some of Europe’s largest renewables projects, with transactions like NTR’s aligning wholly with our values as the transition to renewables continues to grow in pace.”The DLA Piper Team advising Rabobank on the matter was led by Legal Director Laura Gordon and supported by Associate Alexandra Smyllie, Senior Associate Sophie Linnell and Trainee Solicitor Zayn Govani.