Herbert Smith Freehills is advising Copenhagen Infrastructure Partners (CIP) on the sale of its 100% interest in the Templeborough Biomass Power Plant to Greencoat Capital (Greencoat). Contracts were signed earlier this month.
Herbert Smith Freehills has been working with CIP on the asset for the last five years having advised on the acquisition and development of the project.
The plant has a net capacity in excess of 40MW of green electricity, which is enough to supply 78,000 homes and save over 150,000 tons of CO2 every year.
Headquartered in Denmark, CIP is a fund management company focused on a wide range of energy infrastructure including biomass and energy from waste, offshore wind, onshore wind, solar PV, transmission and distribution, and other energy assets such as reserve capacity and storage.
Herbert Smith Freehills has previously advised CIP on multiple renewable transactions in the UK, including on its acquisition and development of the Lostock Sustainable Energy Plant (which, when operational, will be one of Europe's largest energy from waste plants), its joint venture with Burmeister & Wain Scandinavian Contractor on the acquisition and development of a biomass-fired combined heat and power plant project in Kent, and the development and subsequent refinancing of the Brigg and Snetterton straw fired biomass plants.
Herbert Smith Freehills' team is led by corporate partners Sarah Pollock and Stephen Wilkinson and construction partner Tim Healey, assisted by senior associates Tom Marshall and Alastair Burn and associate Luisa Giannone.
Sarah Pollock said: "It is great for the team to have acted on CIP's first full asset disposal particularly given our work with them on the acquisition, development and financing of multiple renewable assets in recent years."