• Swindon & Wiltshire News
• Wednesday January 18 2023
• Author Name: Peter Davison

TLT advises JBM Solar on the sale of 102MWp solar portfolio

Bristol-headquartered law firm TLT has advised leading solar developer JBM Solar on the sale of a 102 MWp solar portfolio, with 65MWac of co-located battery storage, to Vantage RE.

Vantage RE currently owns, operates and manages a significant solar portfolio in the UK and the acquisition marks Vantage RE’s first step into project development in the UK.

The portfolio is comprised of two pre-construction solar projects – the Eastfields project in Warwickshire and the Bunker’s Hill project in Hampshire – both of which were awarded Contracts for Difference in Allocation Round 4.

The projects are set to become operational in 2024 and will provide enough electricity to power over 37,000 homes every year.

JBM Solar developed these projects as part of its ambition to deliver 3GWp of grid-secured pipeline solar projects by 2025.

TLT provided legal support and guidance on all aspects of the transaction, which included cross-service and cross-sector expertise.

The deal was led by corporate partner Kay Hobbs and managed by corporate associate Tom Lawrence, supported by Maisie Dodds (corporate), Andree Parker (pensions and incentives), Mark Braude (pensions and incentives), James Johnson (real estate), Matt Grimwood (real estate), Fergus Charlton (planning and environment) and Claire James (planning and environment).

Brendan O’Brien, director and co-founder of JBM Solar, said: “We’re delighted to have completed this milestone transaction with Vantage RE with the help and support with the team at TLT whose in-depth industry knowledge in the clean energy sector and dedication to client service was instrumental in delivering a seamless transaction.”

Kay Hobbs, corporate partner at TLT, commented: “It was a pleasure to help our longstanding client, JBM, get another significant transaction over the line and it is testament to the quality of projects JBM develops and its commitment to this sector.

“We’re proud to be supporting organisations, such as JBM, who are at the forefront of contributing to the UK’s net zero targets.”