PKF Francis Clark lead adviser in Thrive Renewables deal

28th February, 2019

PKF Francis Clark were lead advisers in the disposal of two operational onshore windfarms by Thrive Renewables plc the renewable energy investment company. The windfarms totalling 13MW have been sold to infrastructure fund manager Equitix. The multi-million pound deal will enable Thrive to continue to build new renewable energy capacity in the UK. The two wind farms will continue to produce clean, green electricity under the new ownership.

PKF Francis Clark worked with the Thrive team to formulate and realise their strategy of taking advantage of current high market valuations for operational onshore wind projects to release equity to invest in further new cost-effective, small to medium commercial scale solar, wind, hydro and other clean energy projects. Its aim is to continue delivering rewarding shareholder returns alongside a significant positive environmental impact.

Matthew Clayton, Managing Director of Thrive said: “Our mission is to power the transition to a sustainable energy future by providing people with a rewarding connection with clean energy projects and this deal is an important part of that. We are actively enabling shareholders to realise some of the gains that their assets have achieved, while also freeing up money to invest in new renewable energy capacity and increase the positive impact of our business.” 

The corporate finance team at PKF Francis Clark were Andy Thornhill and Richard Harris, specialist energy corporate finance advisers who acted as lead advisers to Thrive on the sale undertaking the disposal process, negotiation, deal structuring and managing the due diligence process. 

Andy Thornhill said: “We were pleased to lead this fantastic transaction and enable Thrive to both take advantage of current high market valuations for operational onshore wind projects and continue to grow their business. In doing so we were also able to ensure a suitable partner in Equitix was found to keep the sites generating clean wind power and guarantee our client’s commitment to maintaining their local community engagement work.” 

Matthew Clayton continues: “The corporate finance team at PKF Francis Clark played an integral part in the success of this sale. They gave us good access to the marketplace and worked with us to ensure negotiations went smoothly.”

Thrive Renewables was also advised by Pinsent Masons (legal corporate) and TLT (legal property). 

Notes

PKF Francis Clark’s specialist Energy and Infrastructure corporate finance team provide a complete financial advisory service to the renewable energy sector with experienced senior corporate finance experts alongside leading tax advisory, wealth management and due diligence specialists.

The team is made up of sector experts with a proven track record of delivering market leading results for their clients over a number of years. Over the last 18 months the specialist Energy and Infrastructure Advisory team have worked as lead adviser on 10 completed operational onshore wind transactions totalling c.150MW with a total value of c. £0.4bn.

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