We are proud to have recently advised reserve power developer Balance Power Projects Ltd on the sale of its 5 MW shovel-ready gas-peaker project in Birmingham. Mast Energy Developments Ltd, a subsidiary of Kibo Energy plc has purchased the project rights and shares in the SPV, which completed in June.
About the sale, Budd Legal founder Neil Budd commented: “We were delighted to advise Balance Power with this project. The reserve power market was hit by the cancellation of the Capacity Market auctions last year and the very low prices in the recent T-1 auction hasn’t helped. But the market is still active, and this deal is encouraging as it shows that good quality projects can be developed even in a tough market”.
To find out more about this project, or recent projects in Africa and Eastern Europe, contact Neil on 0203 904 7965.
About Budd Legal
Based in the City of London, Budd Legal is a niche law firm specialising in energy and infrastructure projects. Registered in the UK and experienced in international projects, we work with originators, developers and buyers of large-scale projects, including conventional and renewable energy. We also work on transactions in natural resources and oil & gas.
In addition to energy and infrastructure, we work on complex real estate transactions, joint ventures, share sales and corporate acquisitions.
At Budd Legal, we have an extensive network of contacts both in the UK and internationally. We endeavour to find opportunities for our clients and proactively seek solutions to their problems.