The two projects are located at Lower Road in Brentwood, Essex and at the Port of Tilbury in London. Lower Road will be a 10MW "front of the meter" project and Port of Tilbury will be a 9MW "behind the meter" project co-located with London's Port of Tilbury industrial port facility.
Both projects were acquired from Origami Energy and are 100% owned by Gore Street. They have in place all land rights, planning and other consents and grid access rights necessary to start construction and enter operations. Construction will commence shortly, and the projects will be operational in Q2 2019.
These acquisitions follow the purchase of a seed portfolio of two operational assets, Boulby and Cenin, in June 2018 through a special purpose vehicle with a mixture of equity and debt for a total consideration of £7.3 million.
Baker Botts represented Gore Street in this transaction.
Baker Botts Lawyers/Office Involved: Lewis Jones (Partner, London); George Salter (Associate, London); Naomi Pakenham (Associate, London) and Melanie Sharpe (Special Counsel, London).
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