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Eversheds advises on financing of solar projects

Global law firm Eversheds Sutherland has advised Berenberg on its cross-border financing of solar projects across Ireland and Britain, which will be developed by Elgin Energy.

Headquartered in Germany, Berenberg is one of Europe’s leading privately-owned banks.  

Elgin Energy is a full-service, utility-scale, solar-plus storage developer, which had delivered 21 solar projects before Britain’s Renewables Obligation (ROCs) scheme ended in 2017.

In 2020, the company partnered with Foresight Group and Metka on two portfolios to deliver solar projects. It now has a late-stage pipeline totalling over 3.7 gigawatts across its three key markets of Britain, Australia and Ireland.

Eversheds team

The Eversheds Sutherland Irish team was led by partners Piaras Power (banking), Stephen Barry (planning and environmental) and Mark Varian (energy), and included Damian McElholm, Robert Potter-Cogan, Bronagh McAuliffe (banking), Ciara Gunning (property), Michael Twomey (planning and environmental), Phelim McGeady (energy), and Tim Kiely and Melissa Daly (tax).

The Eversheds Sutherland team in Britain was led by Peter Graystone (energy).

Stephen Barry said that the deal demonstrated the firm’s ability to support clients across multiple markets.

Eversheds Sutherland has 74 offices in 35 jurisdictions worldwide, including nine in the US. Their Irish offices in Dublin and Belfast employ over 300 staff.