Ward Hadaway Helps Secure Financing for Major Renewable Energy Generation Facility
Posted on the 14 March 2019
Leading commercial law firm Ward Hadaway has helped support a North East-based project developer secure financing for a major renewable energy generation facility to be constructed in Kent.
The facility will convert food waste which would otherwise be sent to landfill into gas which can be injected into the gas mains. When operational the plant will generate enough renewable gas to heat around 5,000 houses and will prevent nearly 133,000 tonnes of carbon dioxide from entering the atmosphere.
The Kent facility is the latest renewable energy generation scheme from EOS, a North Yorkshire-based developer of energy projects across the UK which has worked with Ward Hadaway for many years on a range of technologies.
A team of lawyers from the firm's Energy group supported EOS on various aspects of the transaction, building on substantial specialist experience in the energy and biogas sector.
Commercial Partner Matt Cormack led on the firm-wide transaction supported by colleagues in the firm's Banking, Finance, Property and Construction teams.
Matthew Flint from EOS commented: “Once again, it has been a pleasure to work with Matt and the team at Ward Hadaway. Getting projects to financial close can be a stressful and demanding process and we know that we can rely on the team to help us complete transactions within challenging timeframes.
"They have an unrivalled depth of understanding of the energy sector, coupled with a strong work ethic to drive projects to completion."
The latest EOS project at West Maling builds on its recent successes elsewhere in the country and is part of its strategy to develop additional energy generation schemes to meet UK renewable energy targets.
Matthew added: "We have several schemes in the pipeline for 2019 and beyond and are actively looking for further opportunities across the country in a range of technologies."
The project is a culmination of 18 months' development work, supported by Ward Hadaway's Energy group, led by Mark Whitehead. Ward Hadaway was involved in structuring the project, as well as negotiating all major commercial arrangements to bring the project to fruition, working with lawyers for the various parties based in London, Osnabruck, Kent, and Cambridgeshire.
Matt said: “It is a pleasure to see this project achieve financial close and commence construction activities. This was a complex transaction, requiring delivery of strategic and technical legal advice across a number of disciplines within a very tight timescale. I look forward to the opportunity of working with the team at EOS in relation to their future projects."
Mark Whitehead, head of the Energy group at Ward Hadaway commented: “The Blaise Quarry biogas scheme is one of six similar projects the team has worked on in the past 12 months. It is testament to the skills, expertise and commitment of the team that Ward Hadaway is able to work with clients like EOS on energy projects of this nature.
"The team is currently advising a variety of clients from across the country in relation to a broad range of matters across the energy and waste sector, including generators, suppliers, contractors, funders, network operators and project developers.”