BURGES Salmon has advised Octopus Renewables Infrastructure Trust plc (ORIT) on the acquisition of Breach Solar Farm (Breach), a c. 68MW ready-to-build solar PV project in Cambridgeshire, UK.
The anticipated total cost of the acquisition and development of the solar farm is circa. £50 million. Additionally the acquisition gives ORIT the right to develop a battery storage asset on the site, which is expected to be ready-to-build later in 2022 and have a capacity of 50MW/100MWh.
The Burges Salmon team advising on the deal was led by partner Camilla Usher-Clark and associate Briony Barber, both from the firm’s Corporate Energy team, alongside other members of the firm’s Energy & Utilities sector team.
Camilla Usher-Clark commented: “Octopus is a long-standing client of the firm and this transaction marks another significant step forward in its journey. We look forward to supporting the team in the future as it continues growing in the renewables sector, committed to helping the UK achieve its net zero ambition.”