Member Article

Yorkshire law firm advises on £24.5 million for Bernard Matthews renewable scheme

Experts from the Yorkshire office of law firm Addleshaw Goddard have played a major role on a £24.5m investment that will see the installation of renewable energy boilers at Bernard Matthews’ turkey farms.

The UK Green Investment Bank (GIB) and Equitix are making the investment into the project, the largest of its kind.

The scheme will see around 180 new biomass boilers installed across 21 farms in Norfolk, Suffolk and Lincolnshire, meaning that 40% of Bernard Matthews’ estate will benefit from the new renewable energy technology.

A team from Addleshaw Goddard, including members of the Leeds office’s energy, property and construction and projects team, advised Equitix on the deal.

Equitix delivers and manages infrastructure projects from bidding and closing through to construction and service provision.

Richard Goodfellow, head of energy at Addleshaw Goddard, said: “Bernard Matthews has seen the commercial benefits of investing in energy efficiency and renewable energy generation.

“This is a major investment and will allow Bernard Matthews to reduce costs as well as greenhouse gas emissions.”

Sam Greatorex, managing associate at Addleshaw Goddard, added: “The Equitix managed fund, Energy Saving Investments (ESI), in which GIB is the cornerstone investor, is investing £12m in the project.

“This has allowed an additional £12.5m of additional private sector capital from the Equitix Energy Efficiency Fund (EEEF).

“For Addleshaw Goddard, this project has been a fascinating one to be involved with and again emphasises our leading expertise in the energy sector.”

The project was conceived, designed, and managed by Lumicity, a leading renewable energy developer.

This was posted in Bdaily's Members' News section by Clare Burnett .