Watson Farley & Williams Advised VPI On 2 GW UK CCGT Portfolio Refinancing

Watson Farley & Williams Advised VPI On 2 GW UK CCGT Portfolio Refinancing

Watson Farley & Williams (“WFW”) advised VPI on securing a loan facility from a syndicate of UK and international banks to refinance existing debt for its UK combined combustion gas turbine portfolio of over 2GW, including plants at Damhead Creek, Rye House, Shoreham and Blackburn.

Headquartered in London, VPI is a leading power company operating eight sites and developing multiple others across the UK, Ireland and Germany, with a combined capacity of approximately 3.5 GW.

Henry said, “We’re delighted to have advised VPI on the refinancing of its UK CCGT portfolio. This financing reflects investor confidence in the portfolio’s ability to provide flexible, reliable capacity to support the energy system and the continuing role of gas turbine plants in the UK’s energy transition”.

The Watson Farley & Williams team was led by Global Energy Sector Head Henry Stewart (Partner), supported by Oli Baines (Associate), and Ellen Mackie (Associate), and Sam Gunnewicht (Trainee). Real Estate advice was provided by John Rosmini (Partner), Charlotte Williams (Counsel ), and Emily Harper (Associate). Emmanuel Ninos (Partner), and Ben Harvey (Associate), offered project development expertise, whilst Andy Savage (Partner), David Bath (Senior Associate), and Jonathan Ford (Associate), advised on corporate law matters. Solange Leandro (Partner), provided regulatory advice, and Nick Walker (Partner), and Hamish Ungless (Associate), advised on the environmental and planning aspects of the transaction. Rob McBride (Partner), and Kristina Buckberry (Associate), provided hedging advice and Richard Stephens (Partner), and Tabishe Arshad (Associate), led on tax law matters.

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