TLT supports two energy sector clients on major merger

TLT has advised on the strategic combination of renewable energy developer Aura Power and the Verdant Energy renewable energy portfolio backed by CVC DIF, creating a significant platform for the development, construction and operation of solar and battery storage projects in the UK.

The transaction brings together two established participants in the renewable energy market, as well as two clients of TLT, and is expected to support the continued development of a substantial portfolio of solar and battery storage assets. The combined platform is expected to comprise approximately 1GW of operating and under construction assets and a further 2GW of development pipeline projects across the UK.  

TLT advised on the real estate aspects of the transaction, acting for both Aura Power and CVC DIF on the merger. The deal builds on TLT's relationships with both organisations and further demonstrates the firm's strength in supporting major transactions across the future energy sector.

The TLT team was led by Matt Grimwood and Nadia Wheeler, Real Estate Future Energy Partners, with support from Kim Tomlins and Lucy Cuddihee, as well as Maisie Dodds, who assisted CVC DIF by way of in-house legal secondment.

Matt Grimwood, Real Estate Future Energy Partner at TLT, said: "We're delighted to have supported two of our clients on this strategically important transaction. Across the renewable energy market, we're increasingly seeing developers partner with investment platforms to unlock the capital and expertise required to bring projects through construction and into long-term operation.

This transaction reflects the continued maturity of the UK renewable energy sector and demonstrates ongoing investor confidence in high-quality solar and battery storage projects. It also highlights the growing importance of platform-scale investments in accelerating the delivery of clean energy infrastructure."  

Nadia Wheeler, Future Energy Partner at TLT, added: "The transaction involved complex real estate considerations across a significant portfolio of projects and required close collaboration between all parties while working to tight timelines. We were pleased to work alongside Aura Power and CVC DIF to help facilitate the successful completion of this milestone transaction."

‍