PFK Francis Clark Advises on £163m Wind Farm Sale


The sale of a £163m wind farm has completed with advice from South West accountancy firm PKF Francis Clark. The 47.5MW wind farm in Brockaghboy, 30 miles from Derry, Northern Ireland, was sold to Greencoat UK Wind by ERG Power Generation and TCI Renewables. Richard Harris and Andy Thornhill from PKF Francis Clark worked with ERG and TCI to approach the market and manage offers from a number of potential equity and debt providers. Throughout the three-month disposal process, offers were developed with Greencoat which was selected as the preferred party. Wes Dickson, finance director of TCI, said: "We have a long established successful relationship with the PKF team who provided TCI and ERG with comprehensive and timely advice in preparation for and throughout this important disposal process. "Continuity of a senior, trusted advisory team throughout the transaction ensured we secured engagement with key investors in the market, leading to the delivery of a market leading result which exceeded our expectations." Richard Harris at PKF Francis Clark said: "We were delighted to work with ERG and TCI to bring this high quality asset to market and conclude a deal which crystallises the value from years of hard work for their respective teams. "Market developments such as the transition to I-SEM in Northern Ireland and Brexit created challenges that were successfully mitigated in ensuring a clean and good value transaction for all parties." Andy Killick, partner and head of corporate finance at PKF Francis Clark said: "The process benefited from our global network of investors but also the local onshore wind and Northern Ireland sector expertise of the transaction team, to ensure a fantastic result for our client."

Article by Josh Morris Source: Insider Media