TLT advises clean energy developer on renewable energy park investment

National law firm TLT has advised Ridge Clean Energy on the Fair Oaks Renewable Energy Park transaction with L&G NTR Clean Power Fund.

Ridge Clean Energy (Ridge) is a developer of renewable energy projects throughout the UK, with a particular focus on supporting communities and helping landowners and tenants restore ecosystems and reduce emissions.

The Fair Oaks Renewable Energy Park (Fair Oaks) in Nottinghamshire has been developed by Ridge and comprises 75.4 MWp of solar PV and a 49.9MW/99.8MWh BESS, enabling it to both optimise the available grid by capturing and storing excess energy until needed and to provide critical grid services. Ridge will collaborate with the L&G NTR Clean Power (Europe) Fund III, a joint partnership between NTR and Legal and General, to deliver the project and support the local community.

Fair Oaks has a grid connection offer and planning consent in place and has secured a contract for difference, providing long-term revenue certainty. Construction is expected to commence in 2026 ahead of a targeted commercial operations date of early 2028.    

The TLT Future Energy team advised on the corporate and real estate aspects of the transaction.

The corporate transaction was led by Peter Dunn, Managing Associate, with support from Eleni Zinga, Associate, and Maria Connolly, Partner, led on the real estate aspects with support from Erika Zurburg, Associate.

Commenting on the transaction, Peter Dunn, Managing Associate at TLT said: “This transaction brings together two established players at the top end of the UK renewables market and is also a great illustration of how solar development and battery storage can be combined as the market continues to evolve in support of the transition to net zero.

"Institutional appetite for well structured projects of this scale remains robust and we are delighted to have supported Ridge on this milestone transaction and congratulate all parties involved.”

Marjorie Neasham Glasgow, CEO of Ridge said: “Ridge is proud to work with NTR to deliver the next phase of Fair Oaks which will create meaningful local benefits and help landowners make the most of their resources. Both NTR and L&G have an established reputation for long-term commitment to the UK and for prioritising local stakeholders. This approach aligns with Ridge’s perspective that we are best placed to achieve the government’s 2030 goals if we deliver long-term value to the local area, and we look forward to working together.

We would like to extend our thanks to TLT’s Future Energy team who were a pleasure to work with throughout this transaction.”

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