Burgess Salmon advises MEEF and AMPYR Solar Europe on net zero infrastructure
Burgess Salmon have focused on supporting two projects driving the transition to net zero across the UK.
The first project has seen Burges Salmon has advised the Mayor of London’s Energy Efficiency Fund (MEEF), managed by Amber Fund Management Limited (Amber), on providing a debt and equity funding solution to Vehicle-as-a-Service (VaaS) provider Breathe.
Breathe is a London-based Small Medium Enterprise (SME) established in 2021, with a mission to clean up London’s air quality by providing zero emissions vehicles to London’s private hire drivers. In 2020, the Mayor of London, Sadiq Khan, decided to fund a four-year continuation of the pilot phase of the Breathe London network.
Now, Breathe will provide more than 100 new Tesla vehicles to private hire drivers, including Uber, and replace existing petrol, diesel and hybrid vehicles that significantly contribute to air pollution in London. MEEF will finance the zero emission capable vehicles, with finance payments made on a per mile basis to boost cash-flow to the fleet operators, enabled by Zeti’s fintech platform, ZERO.
This project is a crucial step in tackling London’s air pollution and supports Sadiq Khan’s commitment to zero emission transport in the capital. It is predicted that the Breathe fleet will save 338 tonnes of CO2 being released into the atmosphere per year, contributing towards cleaner air for Londoners.
The Burges Salmon team advising on the deal was led by partner Graham Soar and director Alistair Rattray, both from the firm’s Banking and Finance team.
Alistair Rattray comments:
“Advising impactful fund initiatives such as MEEF means we have played a part in providing a powerful model for the delivery of high-quality investment initiatives which provide significant progress on meeting climate change commitments.”
The second projects saw Burges Salmon advising AMPYR Solar Europe on Net Zero infrastructure deal with Edinburgh Airport.
The firm has advised the pan-European solar developer on a deal that will significantly progress Edinburgh Airport’s Net Zero ambitions
Burges Salmon has advised AMPYR Solar Europe (ASE) on the development of a solar farm linked with battery technology and electric vehicle charging infrastructure at Edinburgh Airport.
Along with its local construction partner, Absolute Solar & Wind, ASE is intending to build approximately 9MW of solar PV, 1.5MW of battery storage and 40 EV charging points. The large ground-mounted solar PV system and battery will be situated next to the runway on a 16-acre plot of land, connected to the airport via a high voltage private wire network.
ASE, which was established last year by Hartree Partners, AGP Sustainable Real Assets and NaGa Solar, has a combined pipeline of over 5GW of large-scale solar projects in the UK, Germany and the Netherlands. Edinburgh Airport will purchase the power produced by the solar farm through a long-term Power Purchase Agreement (PPA) with ASE. This PPA will generate long-term energy and carbon savings for the airport.
The partnership between ASE and Edinburgh Airport is a crucial step for both Scotland’s busiest airport in reaching its goal to achieve Net Zero by 2040 by generating clean, renewable energy, and for Burges Salmon as a fundamental part of the firm’s commitment to responsible business, contributing to a future that is environmentally sustainable.
The Burges Salmon team advising on the project was led by director Alec Whiter and partner Nick Churchward both from the firm’s Energy Projects practice, along with Lloyd James, Lauren Luscombe, Ross Howells and Theo Wapshare from the Construction team, and Euan Bremner and Claire MacLean from the Real Estate team.
Matthew van Staden, senior PPA originator at Hartree Partners, comments:
“Alec, Lauren, Nick and the wider team at Burges Salmon were simply fantastic. Burges Salmon are true experts in the energy and net zero infrastructure sectors and worked tirelessly and pragmatically to get the project to completion. We look forward to working with them again soon.”
Alec Whiter adds:
“We are delighted to have advised ASE on this transformative project. Energy security and carbon footprints are key areas for major transport hubs and we are very pleased to have assisted ASE with this project which is a cornerstone of Edinburgh Airport’s Greater Good sustainability strategy.”
Nick Churchward, client partner for AMPYR Solar Europe and Hartree comments:
“It was a pleasure to be able to support ASE on this project with Edinburgh Airport. We started work on the project some time before the current market uncertainties took hold and envisage many more energy users looking to procure greater energy cost certainty and security through the development of this kind of infrastructure and funding model. We look forward to working with AMPYR and other clients as energy users decarbonise their energy supply and generation arrangements as part of their Net Zero plans.”
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