Addleshaw Goddard advises John Laing on wind farm deal
Addleshaw Goddard’s Leeds office has advised John Laing on a deal that will see a major onshore wind farm delivered. John Laing, the specialist investor and manager of infrastructure assets, is acting as sole equity provider on the nine-turbine facility, which will generate enough energy to power more than 11,000 homes.
The Addleshaw Goddard team, led by legal director Paul Dight, included experts across the business in departments including energy, property, construction, corporate and project finance, planning and tax.
NordLB is providing a long-term debt package for the wind farm, which is being constructed at Burton Wold, near Kettering, Northamptonshire, and is expected to be fully operational by August 2014. John Laing is a 100 per cent investor in the facility after working with developer First Renewable to acquire the project from the landlord shareholders in June.
Planning permission for the site was granted in August 2012 and the project has been developed by First Renewable since that time. A team from DLA Piper in Leeds advised NordLB. John Laing was represented by Yorkshire-based director Simon Parrish and manager Sue Peart.
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The past five years have not been easy for Addleshaw Goddard. The firm’s revenue fell 7 per cent from £173.1m to £161.9m between 2008/09 and 2010/11 and despite finances looking up in 2011/12, when Addleshaws reported a 30 per cent increase in net profit, it has shown no notable compound growth in turnover since 2007/08.