TLT advises Low Carbon on major investment from leading global investment firm

National law firm TLT has advised its long-standing client, Low Carbon, on a £1.1 billion investment that will accelerate the UK’s clean energy revolution and place Low Carbon at the forefront of the energy transition.

The funding combines primary equity from CVC DIF, with follow-on investment from existing shareholder MassMutual and the refinancing of existing project finance debt and a Holdco facility.  

Low Carbon already has a 16GW pipeline and 1GW of operational and in-construction assets. The new capital will help to further grow its presence in the UK, Germany and Poland and remain at the forefront of the UK and Europe’s energy transition as renewable energy scale-ups continue in a drive to meet ambitious targets in both regions.

TLT has supported Low Carbon since 2013, and in the past year alone has already completed a series of significant deals. These include advising on the sale of the large DCO project Gate Burton, located in Lincolnshire, to EDF Renewables and on the sale of a 435 MW solar and battery portfolio to global integrated energy company TotalEnergies.

TLT advised on the real estate, planning and grid aspects of this deal. The transaction involved a multidisciplinary team of experts from across the firm and was led by Future Energy Real Estate Partners Matt Grimwood and Nadia Wheeler. They were supported by a large team of over 40 fee earners which included David Miller, Katherine Evans, Nick Pincott, Greg Pringle, Claire James, Ellie Nicole-Davies and Kate James.  

Matt Grimwood, Future Energy Real Estate Partner at TLT commented: “The importance of this transaction is reflected in the amount of time and effort that has been spent working on it. Completion represents the culmination of six years of hard work in working with Low Carbon on this portfolio of assets and will be a major boost to our long-standing client, enabling them to supercharge the British and European energy transition.

“We are incredibly proud to be working with forward-thinking organisations, such as Low Carbon who are continuing to enhance their position at the forefront of progressing the UK’s net-zero ambitions.”

Amos Carrington, General Counsel at Low Carbon added: “This investment marks a significant step forward in our shared ambition to deliver utility-scale renewable energy. Having worked with TLT for over a decade, we knew we could rely on their team to support us through this milestone. Their commercial approach and resourcefulness played a big part in helping us getting this transaction over the line.”

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