Global law firm Ashurst Perkins Coie has advised Barclays Bank and Nomura as bookrunners and underwriters on a £315 million HoldCo debt financing for Island Green Power ("IGP"), a UK-based clean energy developer and power producer specialising in utility scale solar PV and battery energy storage systems.
The financing will enable IGP to refinance existing debt and provide capital to support the construction of its first projects, including the West Burton solar project, the largest solar nationally significant infrastructure project to receive a Contract for Difference. The transaction supports IGP's strategic transition into an independent power producer.
The Ashurst Perkins Coie team was led by infrastructure finance partner Laura Ho, supported by partner Sarah Gant and senior associate Arjun Kiri, and associate Rory McCracken.
Laura commented, "This is the type of complex HoldCo financing structure that our infrastructure finance team regularly delivers, continuing to solidify the Ashurst Perkins Coie team as the leading practice in this area. We are delighted to have advised Barclays and Nomura on this significant transaction, reflecting the strong appetite for supporting the build-out of large-scale renewable platforms in the UK."
