TLT advises Dalmore Capital on acquisition of seven river hydropower sites

National law firm TLT has advised Dalmore Capital on the acquisition of a river hydropower portfolio in Scotland from Edge Hydro Investments limited.

Dalmore Capital is a fund management company that invests in long-term infrastructure assets on behalf of institutional investors.

The portfolio can provide base load renewable generation and balance other forms of intermittent supply, which is key to delivering a net-zero energy mix. It also represents a high-yield, low-risk investment and is highly cash generative, with revenues backed by long term Feed-in-Tariff subsidies benefiting from Retail Price Index (RPI) indexation. The portfolio offers an attractive risk adjusted return, high inflation correlation and strong downside protection.

TLT advised on all legal aspects of the transaction. The team was led by Kay Hobbs, Corporate Partner with support from Joshua Swain, Associate. The deal also required cross-practice and cross-jurisdictional support from TLT’s Scottish Real Estate, Planning, and Banking teams.

This transaction marks Dalmore Capital's second major acquisition within the renewable energy sector over the past year, with TLT serving as legal adviser throughout. In January 2025, TLT also provided counsel to Dalmore Capital on its £44.1 million acquisition of nine hydropower sites from Triple Point Energy Transition, details of which can be found here.

Kay Hobbs, Corporate Partner at TLT commented: “It was a pleasure to work with Dalmore Capital again as they continue to expand their portfolio of hydropower sites. Dalmore’s experience enabled them to focus on the key issues and to make decisions quickly which really contributed to an efficient process on the buy-side. We’re delighted to have supported them.”

Alistair Ray, Chief Investment Officer at Dalmore Capital, said: ‚ÄúOur second investment in the hydro sector in quick succession demonstrates the value we see in owning these assets; they are high-yielding and low-risk renewable generators, key to delivering a net zero grid mix which can balance grid supply with ever increasing demand of consumers.‚Äù