Rubicon Advises Elgin Energy on the Sale of the UK’s Largest Portfolio of Solar PV Projects
Rubicon Capital Advisors (“Rubicon”), one of the world’s leading investment banking firms focused on the broader infrastructure, energy and digital sectors, announced its role as exclusive sell-side financial advisor to Elgin Energy Holdings (“Elgin”) in reaching completion on the 100% sale of a 519 MW portfolio of solar PV projects and 70 MW of co-located energy storage capacity (the “Portfolio”) to ScottishPower Renewables (UK) Limited (“Scottish Power”), a wholly-owned subsidiary of global utility Iberdrola Group.
The portfolio sale marks the UK’s largest solar PV transaction to date, consisting of 12 projects at the pre-construction stage located across England, Wales and Scotland, with a combined capacity of 519MW. The portfolio also includes a co-located 70MW battery solution that is at an advanced stage of development.
“We are delighted to have reached this significant milestone and partnered with Iberdrola / ScottishPower Renewables on this portfolio. We will continue to develop and deliver on our 5GW project pipeline across the UK, Ireland and Australia, working closely with landowners, local authorities and all related stakeholders”, commented Ronan Kilduff, CEO of Elgin Energy.
The portfolio will play a pivotal role in contributing towards the UK’s 2050 Net Zero Strategy, not only generating low cost and low carbon electricity but also creating significant regional economic development and supplying zero-carbon electricity to over 143,000 homes across the UK.
“We have a proven track record in working with global developers and large renewable energy portfolios of scale across the world and we are delighted to have advised on the UK’s largest solar and storage transaction to date. This is a landmark transaction on many fronts, representing a new frontier in the UK and internationally in terms of both scales and in combining solar PV and large-scale battery storage into a single asset portfolio. Moreover, this transaction is an excellent example of Rubicon’s commitment to be at the leading edge of ESG initiatives, particularly as they relate to tackling global climate change issues”, commented Barry O’Flynn, Managing Director at Rubicon.
About Rubicon Capital Advisors
Rubicon is one of the world’s leading investment banking firms focused solely on the infrastructure, energy, digital & utilities sectors. With offices in Europe, the Americas and Asia, the firm has a truly global reach. Since its inception in 2011, Rubicon has closed on the sale, acquisition or refinancing of well over 100 essential infrastructure, energy, digital & utilities assets located across Europe, North America, Latin America and Asia with a combined enterprise value in excess of $85 billion. The firm is regulated by the Central Bank of Ireland and its U.S. affiliate is a member of FINRA and SIPC and registered as a broker-dealer with the SEC. Learn more about the firm at: www.rubiconcapitaladvisors.com and by following Rubicon Capital Advisors on LinkedIn.
About Elgin Energy
Elgin Energy is a full service, utility-scale, solar+storage developer bringing projects from origination through development. The company has a portfolio of projects in late-stage development totalling over 5GW across three key markets of the UK, Australia and Ireland.
In 2021, Elgin Energy secured financing with Berenberg Green Energy Fund for the development of solar PV projects totalling 1.36GW in the UK and Ireland and also raised £25 million via Focus Capital Partners to fund its growth strategy across its core markets. In 2020, the company partnered, in separate transactions, with both Foresight Group and Metka-EGN in relation to two portfolios to deliver a total of 276MW of UK solar development projects and was successful with two Irish solar projects in Ireland’s first solar auction, RESS-1 - Renewable Energy Support Scheme (RESS). In addition to the above, Elgin Energy delivered 21 solar projects, totalling 230MW, before the UK Government’s Renewables Obligation (ROCs) scheme ended in 2017.
Elgin Energy works with long-term strategic partners to deliver projects to energisation and provides asset management services through their operational life. The company has expanded internationally over the last 12 years with a professional team of engineers, accountants and lawyers located in its London, Dublin and Sydney offices. Elgin has a 98% success rate through planning across all its markets.
www.elgin-energy.com & Elgin Energy: Overview | LinkedIn
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220114005171/en/
Contact information
For additional media inquiries, contact:
Nicola Fitzpatrick
T: +353 1 906 0633
E: nicola.fitzpatrick@rubiconcapitaladvisors.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Enviva Announces Public Offering of Common Stock20.1.2022 00:38:00 EET | Press release
Enviva Inc. (NYSE: EVA) (“Enviva,” “we,” “us,” or “our”) today announced that it has commenced an underwritten public offering (the “Offering”) of 4,300,000 common shares. Enviva expects to grant the underwriters an option to purchase up to an additional 645,000 common shares from Enviva at the issue price of the Offering. Enviva intends to use the net proceeds of the Offering for general corporate purposes, including pre-funding a portion of its capital expenditures related to ongoing development projects, and the temporary repayment of debt. Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Barclays Capital Inc., BMO Capital Markets Corp., HSBC Securities (USA) Inc., RBC Capital Markets, LLC, and Truist Securities are acting as joint book-running managers for the Offering. Loop Capital Markets LLC, Raymond James & Associates, Inc., and USCA Securities LLC are acting as co-managers for the Offering. The Offering is being made pursuant to an effective
Enviva Announces MOU With U.S. Customer, Provides Updates to Business and Sales Pipeline, and Accelerates Capacity Expansions20.1.2022 00:33:00 EET | Press release
Enviva Inc. (NYSE: EVA) (“Enviva,” “we,” “us,” or “our”) today provided a business update announcing a memorandum of understanding (“MOU”) with Enviva’s first U.S.-based customer, and detailing plans to significantly accelerate its capital expansion timeline due to recent commercial momentum with power and heat generators and with industrials in hard-to-abate sectors. The business update also included preliminary 2021 financial results. Highlights: Announced plans to accelerate doubling of production capacity over the next five years, including bringing forward plans for a third plant in the Pascagoula, Mississippi cluster as well as additional plants around Savannah, Georgia and in the mid-Atlantic regions, with capability to build and commission two plants per year, up from one per year Signed MOU with Enviva’s first U.S.-based customer, to develop a supply chain strategy to support the customer’s biofuel refining facilities in the Southeast U.S. and potentially California Announced
DXC Technology Expands Global Partnership with ServiceNow to Accelerate Enterprise Service Management and Operational Transformation, Underpinned by DXC Platform X™20.1.2022 00:00:00 EET | Press release
DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services company, announced the formation of a new global DXC ServiceNow Strategic Business Group to deliver market-leading, cost-efficient, resilient technology services that transform enterprise service operations, built on DXC Platform X TM. DXC has named ServiceNow the preferred workflow partner for DXC Platform X, a data-driven, intelligent automation platform that helps detect, prevent and address issues before they happen with resilient, self-healing IT estates. NelsonHall has named DXC Platform X as a “Leader in Cognitive & Self-Healing IT Infrastructure Management,” reflecting DXC’s ability to deliver immediate benefits through automation while meeting customer requirements for their future operating models. “For our customers, it’s about modernizing and automating their IT estates to achieve a state of ‘silent operations,’ saving time, money and letting customers focus on what’s most important --- running the
Dole Affiliate Receives Social Responsibility in Action Award in Costa Rica19.1.2022 20:57:00 EET | Press release
The American-Costa Rican Chamber of Commerce (AmCham) recognized Dole through its daughter company, Standard Fruit Company de Costa Rica S.A., with the Social Responsibility in Action Award in the Employees Category for their project "De la Mano con Dole" — which loosely translates to "Hand-in-Hand with Dole". This year marks the 25th anniversary of the award which was given December 8, 2021. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220119005875/en/ From left: Sandra Lima, Dole Corporate Social Responsibility Senior Manager; Steve Aronson, Horizonte Positivo Board Member; Ana Cristina Obregón, Dole Logistics & Planning Senior Director; Renato Acuña, President of Dole Fresh Fruit Latin America; Gisela Sánchez, AmCham Board President; and Marco Tulio Escobedo, Dole Human Resources Director (Photo: Business Wire) The Hand-in-Hand with Dole project is an initiative that works towards positively impacting the social develop
Q4 Inc. Announces Appointment of Julie Silcock, Investment Banking Veteran, to Board of Directors19.1.2022 20:48:00 EET | Press release
Q4 Inc. (TSX: QFOR) (“Q4” or “the Company”), a leading capital markets communications platform, today announced the appointment of Julie Silcock, currently a Senior Advisor at CDX Advisors, bringing 35 years of Capital Markets and M&A experience, to Q4’s Board of Directors, effective immediately. As a Senior Advisor at CDX Advisors, a tech-enabled investment bank, Ms. Silcock is involved in strategic advisory M&A and capital raising activities primarily for growth-oriented companies in the Southwest. Ms. Silcock previously served as Co-Head of Southwest Investment Banking at Houlihan Lokey and, prior to that, founded and acted as Head of Southwest Investment Banking at Citigroup. Ms. Silcock earned her M.B.A. from Stanford Graduate School of Business and holds a B.A. degree from Princeton University. She currently also serves on the boards of MoneyGram International, Overseas Shipholding Group, Inc., a crude oil and petroleum shipping company, JC Skincare, a privately held beauty compa
Alation Launches “Data Radicals” Podcast with Revolutionary Insights Transforming the Way We Use Data19.1.2022 17:00:00 EET | Press release
Alation Inc., the leader in enterprise data intelligence solutions, today announced the debut of its podcast, “Data Radicals.” Hosted by Satyen Sangani, CEO and co-founder of Alation, “Data Radicals” is a show for business, data, and technology enthusiasts who seek to enable individuals and organizations to use data in powerful ways. The podcast kicks off today, with the first 5 episodes available online, as well as Apple Podcasts, Spotify, and anywhere podcasts are available. “Data Radicals” is for anyone interested in how data, science, and technology can help solve the world’s most pressing problems. Episodes explore how data leaders and academics are driving data culture and the role they play in changing how people think and work. The podcast leaves listeners with an understanding of how to facilitate data-driven decision-making and data literacy at all levels of an organization. “The launch of ‘Data Radicals’ gives business leaders, entrepreneurs, and those of us passionate about
Protegrity Partners With Google Cloud to Support BigQuery Remote Functions19.1.2022 17:00:00 EET | Press release
Protegrity, a global leader in data security, today announced it has partnered with Google Cloud to support the upcoming release of BigQuery remote functions. First announced at Google Cloud Next ‘21 in October, BigQuery remote functions offer Google Cloud customers the ability to extend BigQuery with their own external code. With support for remote functions, Protegrity adds an additional layer of data protection, while enabling customers to deliver faster, more robust analysis through Google Cloud BigQuery. Protegrity’s partnership with Google Cloud lays a strong foundation to deliver de-identified data sets across many Google Cloud services. In addition to its support for Google Cloud remote functions, Protegrity also announced the availability of the Cloud API for Google Cloud, a serverless API that can be used to integrate data protection into cloud services and ETL workflows, as well as the Snowflake Protector on Google Cloud. “Through our partnership with Google Cloud, one of th
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom