Law firm advises on £64m green energy deal
Bristol law firm Burges Salmon acted for ENGIE on its £64.8m acquisition of a South West UK biomethane producer.
The firm advised leading multinational utility company ENGIE on the acquisition that will accelerates its development in the UK energy market.
Burges Salmon advised ENGIE on its £64.8 million acquisition of Ixora Energy Ltd, a leading biomethane producer based in the region.
As ENGIE continues its expansion across Europe and accelerates its development in the fast-growing UK market, the acquisition of Ixora Energy Ltd consolidates ENGIE’s pipeline of projects in the region and strengthens its biomethane portfolio with the addition of three new production units located in Devon and Somerset, which collectively generate c. 160 GWh of biomethane each year.
The Burges Salmon team advising on the transaction was led by partner Danny Lee and associate Nikoletta Zinonos from the firm’s corporate group.
They were supported by a multi-disciplinary team of lawyers from across the firm’s energy and built environment sectors who provided energy, regulatory, construction, real estate and planning expertise, including Euan Bremner and Claire Batty (real estate), Ian Carnochan and Rishi Naidoo (tax), Craig Whelton and Matthew Tucker (planning), Greg Fearn, Philippa Shepherd and James Phillips (feedstock arrangements, regulatory and environmental).
Danny Lee said: “ENGIE’s sustained investment in biomethane plays an important role towards its goal of achieving net zero carbon emissions by 2045 and meeting the decarbonisation needs of its customers. It has been a pleasure to work with the company on this significant acquisition, which highlights the attractiveness of the UK market for the production of biomethane and the important role it plays as one of the main renewable gases of the future. This was a complex transaction involving many different moving parts but our ability to provide full service legal advice, coupled with our understanding of the energy sector and local market, meant we were able to secure a smooth completion for all parties.”
Stuart Rennie, finance director of Storengy UK, a subsidiary of the ENGIE group adds: “This acquisition resonates deeply with our commitment to a diversified energy mix where biomethane stands as a pivotal force in Europe’s decarbonisation and energy sovereignty, while ensuring a resilient and affordable energy transition. In this way, ENGIE is committed to contributing to the UK’s goals for renewable energy and decarbonisation. We’d like to thank the whole team at Burges Salmon for its excellent advice throughout the process.”
