The firm was also ranked fifth for the number of project and asset finance deals after advising on 21 deals worth $335m in 2016
Law firm TLT has been ranked one of the top five most active legal advisers to the global clean energy sector during 2016 by Clean Energy Pipeline.
The Clean Energy Pipeline Global League Tables, which produce annual global league tables ranking the most active investors, law firms, financial advisers and project debt finance arrangers in the clean energy sector, put TLT at number three for the volume of M&A (Mergers & Acquisitions) deals completed, with the firm having advised on 30 deals valued at $436 million during 2016.
Notable deals included Rockfire Capital’s $88 million acquisition of the Swindon solar project and NTR’s $100 million acquisition of the 29 MW Twin Rivers wind farm.
The firm was also ranked fifth for the number of project and asset finance deals, advising on 21 deals worth $335 million in 2016.
TLT’s Head of Energy and Renewables, Maria Connolly, said: “These statistics show a buoyant sector providing significant opportunity for investment.There are obviously challenges ahead as we move into a post-subsidy world, but scale and maturity alongside new innovations in areas like energy storage will help to ensure continued activity in 2017.
“Our experience in the first quarter certainly suggests that clean energy remains a strong sector with significant potential.”
TLT partner Kay Hobbs said: “From our perspective, M&A activity in this sector remains strong and shows no signs of slowing. The Funds and Yieldcos are still very acquisitive in the secondary market and we have seen a surge in storage M&A activity over the last six months. This is a trend that we expect to continue and to increase.”
TLT partner Gary Roscoe said: “The opportunity to secure longer term, lower cost funding to replace existing equity/construction funding arrangements has triggered a lot of commissioned site refinancing over the last year.
“There has also been continued funding of new projects, including a tail of 1.2ROC ground mounted solar sites. These refinancing opportunities and increasing activity around other technologies, such as biomass, look set to continue into 2017 and beyond.”
TLT says its UK Energy & Renewables team has been active in the sector for more than 20 years, with clients which range from high growth entrepreneurial companies to large utilities.
The firm acts for all parties, including developers, banks, equity investors, contractors and suppliers and has also advised government departments on the implementation and operation of energy efficiency and renewables policy.