Greenvolt Energias and Equitix’s £246.5 Million Acquisition of Tilbury Green Power Plant

Eversheds Sutherland has advised Greenvolt Energias Renováveis, S.A. and Equitix Group on the deal.

Greenvolt and funds managed by Equitix acquired TGPH, owner of the Tilbury Power Plant, a fully operational renewable energy biomass power plant. The biomass power plant is one of the largest in the UK, taking 265,000 tonnes of wood waste. It has a net design capacity of 43.6 MW, and is located near the Port of Tilbury, Essex, UK.

Ownership will be split 51%/49% between Greenvolt and the funds managed by Equitix respectively,  effective from 1 July 2021. The acquisition allows Greenvolt, together with Equitix, to  follow its ambitious project of international growth, solidifying its position in the European renewable energy sector, and contributing to the expansion of its business.

The sellers were UKGIP, a joint venture between the UK Government and UK Green Investment Bank, and ESB an Irish state owned utility, as well as two minority shareholders.

Eversheds Sutherland worked with Portuguese law firm Vieira de Almeida (VdA), who advised on shareholder arrangements and on local Portuguese legal matters. 

The Eversheds’ team was led by Stephen Hill (Picture), supported by Francisco Pimentel, Associate, Corporate; with financing led by Mark Dennison, Partner and Kate Shannon, Principal Associate, Banking. They were assisted by partners, Caroline Clapham, Corporate; Rob McNabb, Construction; Stephen Dick, Real Estate; Ben Jones, Tax; principal associates, Helen Mackey, Tax; Vanessa Challenger, Employment; Simon Davies, Corporate/Regulatory; Paul Denham, Financial Services; Charlie Markillie, Competition; Catherine Manning, Environment Health & Safety; senior associates, Alex Smith,  Banking; Claire Stockill, Commercia/Regulatory; Christine Barnsley, Real Estate; Rachael Coulsting, Planning; and associates, Jai Singh, Banking; Elodie Briere, Environment Health & Safety; and Harry Taylor,  Employment.

 

 

Involved fees earner: Stephen Dick – DLA Piper; Christine Barnsley – Eversheds Sutherland; Elodie Briere – Eversheds Sutherland; Vanessa Challenger – Eversheds Sutherland; Caroline Clapham – Eversheds Sutherland; Rachael Coulsting – Eversheds Sutherland; Simon Davies – Eversheds Sutherland; Paul Denham – Eversheds Sutherland; Mark Dennison – Eversheds Sutherland; Stephen Hill – Eversheds Sutherland; Ben Jones – Eversheds Sutherland; Helen Mackey – Eversheds Sutherland; Catherine Manning – Eversheds Sutherland; Charlie Markillie – Eversheds Sutherland; Rob Mcnabb – Eversheds Sutherland; Francisco Pimentel – Eversheds Sutherland; Kate Shannon – Eversheds Sutherland; Jai Singh – Eversheds Sutherland; Alex Smith – Eversheds Sutherland; Claire Stockill – Eversheds Sutherland; Harry Taylor – Eversheds Sutherland;

Law Firms: DLA Piper; Eversheds Sutherland;

Clients: Greenvolt Energias;

Author: Federica Tiefenthaler