TLT advises leading developer and independent power producer on major solar and battery portfolio project financing

National law firm TLT has advised leading developer and independent power producer, AGR Renewables, on the financing underwritten by Bayerische Landesbank of the construction of five co-located solar PV and battery energy storage projects located in the East of England. Their combined capacity of approximately 310 MW (solar) and 250 MW AC (BESS) represents a significant investment in the UK’s future energy infrastructure and net-zero aspirations.

In addition to supporting AGR Renewables and its 50% shareholder Railpen on the project financing, TLT also provided advice on the negotiation of construction contracts and route to market contracts across the portfolio.

One of the route to market contracts is a landmark 15-year virtual Power Purchase Agreement (vPPA) with Manchester City Council which was completed in 2024.

The TLT team advising AGR Renewables was led by Michael Kruger, Future Energy Banking Partner, with support provided by Winnie Ma, Senior Associate, Tom Hampson, Associate and Toby Morsley, Senior Associate on finance documents, Nick Pincott, Partner and Greg Pringle, Managing Associate on construction contracts, Stuart Urquhart, Legal Director and Amber Bains, Senior Associate on route to market contracts and regulatory matters, Mark Braude, Partner on tax and Henry Male, Legal Director on corporate matters.

Banking Partner, Michael Kruger, said: “This transaction reflects the continued confidence the lender community has in the UK’s solar and battery energy storage markets as we approach 2030. Supporting AGR Renewables on the financing of this portfolio speaks to our extensive sector expertise and our ability to deliver large-scale energy transaction projects at speed for our clients .”

Oliver Breidt, Founder from AGR added: “This financing is a significant milestone for us. Having previously worked with TLT, we value their understanding of our business and collaborative and no-nonsense approach. We thoroughly enjoyed working with the TLT team.”

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