NextPower Development’s A £11.5 Million cquisition Of NextEnergy Solar Fund

Simmons & Simmons has advised NextEnergy Solar Fund on the sale of two subsidy-free assets to NextPower Development for a combined total consideration of £11.5m.

The solar is currently under development with a capacity of 115MW, with the transaction completed on 14 May. As the solar is being sold to a NextPower Development subsidiary, it makes the sale a smaller related party transaction, with NESF moving the assets to another business within its wider Group.

The Simmons team was led by real estate partner Caroline Turner-Inskip (Picture), supported by senior associates Rhiannon Morgan-Williams and Steph Featherstone, and associate Tom Brown.

Involved fees earner: Tom Brown – Simmons & Simmons; Steph Featherstone – Simmons & Simmons; Rhiannon Morgan-Williams – Simmons & Simmons; Caroline Turner-Inskip – Simmons & Simmons;

Law Firms: Simmons & Simmons;

Clients: NextPower Development;

Author: Michael Patrini