Osborne Clarke in Bristol advises Triple Point on its partnership to scale-up Balance Power's clean energy projects
Triple Point, the purpose-led investment manager, has provided a £5.1 million debt facility to Balance Power, a leading independent energy developer, for the development of solar and battery energy storage (BESS) projects in the UK.
The debt facility is the start of a new partnership between Triple Point and Balance Power which will see the development of solar-BESS projects and the acquisition of the ready-to-build (RTB) 6MWp Roborough project, near Plymouth, from Regener8 Power.
The behind-the-meter solar project will generate clean electricity for energy-intensive businesses that will reduce industry emissions and pave the way for a new route to business decarbonisation.
International legal practice Osborne Clarke advised Triple Point. The energy and infrastructure finance team was led by Bristol-based partner Caroline Saul, supported by associate Lucy Gillespie and trainee solicitor Joe Sandom, who are also based in the Bristol office. Partner Matt Lewy provided corporate advice, assisted by senior associate Ben Parker.
Osborne Clarke has previously advised Triple Point on its partnership to scale-up Ethical Power’s renewable energy developments across the UK.
Hamish Tate, investment manager at Triple Point, said: “We are thrilled to have helped originate an opportunity with Balance Power in advancing essential BESS and solar PV projects that bring much-needed renewable energy infrastructure to the UK.
“By reducing reliance on fossil fuel technology, these initiatives tackle high energy costs and contribute to balancing the electrical grid. This debt facility highlights the commitment of the lenders we support to work with developers of energy assets that drive the UK towards a cleaner, more secure energy future.”
Triple Point has an established track record of originating unique debt financing for energy transition asset developers that support the renewable energy integration across the UK and has originated financing for over 16.7 gigawatts (GW) of UK BESS and solar assets in development.
Osborne Clarke has an established and well-respected position as one of the leading legal practices advising on energy projects and transactions. For over 20 years, it has helped clients to seize new opportunities and meet the challenges of making energy generation clean, affordable and secure.
The combination of the international team’s experience and understanding of the energy sector means they are regularly called upon to support businesses on all aspects of their commercial, regulatory, corporate, finance and construction legal needs.
