Leapfrog Finance Funds Construction of Plymouth Energy Community’s Ernesettle Solar Project

LUX NOVA PARTNERS ACTS ON LEAPFROG’S FIRST DEPLOYMENT OF FUNDS – FINANCE OF 4.1MW ERNESETTLE COMMUNITY SOLAR PROJECT

Lux Nova assisted Leapfrog Finance to secure funds last summer from Big Society Capital to launch two innovative financing products for community renewables there was a runaway pipeline of community projects. Government policy changes followed in the Autumn and November, including the removal of various tax incentives for community schemes, leaving a lack of community capacity to take on multi-million pound infrastructure asset projects capable of delivering substantial community benefits. A success story is Plymouth Energy Community (PEC) in partnership with Communities for Renewables CIC, who have created a flagship project for the South West and the entire community sector. LUX NOVA PARTNERS is proud to have assisted Leapfrog Finance in its funding of the construction of a 4.1MW solar PV project on a brown field site located in Ernesettle, which has the potential to generate over £1m of community benefit over its 25 year life. The contractor, Pfalzsolar, is already on site, and is expecting to commission the project to meet the 1.3ROC deadline. The team at LUX NOVA PARTNERS have worked with the parent of Leapfrog Finance since 2012.

Visit Pure Leapfrog’s website here.

Boutique, Clean Energy Law Firm Launches

On Wednesday 1st July, City-law firm partners Tom Bainbridge, Louisa Cilenti and Sandy Abrahams launch Lux Nova Partners Limited.

Lux Nova is a unique, clean energy law firm, bringing together the expertise of the ex-Nabarro Climate Change & Energy team. The trio focus exclusively on the development and financing of renewable energy and low carbon projects, serving industry and public sector clients across the UK and internationally.

In the past year, the team have represented clients on a number of ground-breaking and award-winning deals, including:

  • Shamsuna Solar: 10MW project-financed, solar project in the Aqaba Special Economic Zone in Jordan. Currently under construction and will be the first operating, utility scale solar project in Jordan, as part of the Jordanian Government’s commitment to renewables and the IFC’s award-winning solar financing programme.

  • Tafila wind farm: 117MW project-financed, wind farm project in the Tafila Governate in Jordan. Nearing completion of construction and already generating power, this project won Euromoney Project Finance Renewables Deal of the Year (Middle East) Award 2013 and will be the first true utility-scale wind farm project operating in the Middle East.

  • DREAM (delivering renewable energy in Africa and the Middle East) platform: supporting EP Global Energy in the development of its transformational, renewable energy programme. Part of the strategy includes delivering rapid electrification and cost-effective, first-time access to electricity for many communities considered to be at the bottom of the pyramid.

  • Longley Community wind farm: 400kW, single-turbine wind project, involving an over-subscribed community share offer.

  • Lee Valley Heat Network: supporting the London Borough of Enfield develop a governance strategy for its wholly owned, arms-length heat supply company and to develop a full suite of documentation for the design, build, operation and maintenance of a strategic heat network and for supply of heat. Once built, this project stands to become the UK’s largest district heating network.

  • Elephant & Castle district heating scheme: closing the project documentation in record time for the energy provision to this landmark regeneration project.

  • Greenwich district heating scheme: supporting the client over a number of years structure and deliver its district heating arrangement on another landmark regeneration project.

  • Open Utility: helping this client in the development of its innovative, peer-to-peer renewable electricity trading platform.

  • Greater London Authority: providing the GLA with regulatory advice and developing documentation to support the GLA’s application for a novel, junior electricity supply license (Licence Lite).

  • Ferrybridge Multi-Fuel Energy: supporting this Wheelabrator-SSE joint venture company in negotiations with Smartest Energy for the export of power, sale of LECs and capture of embedded benefits from a 68MW energy from waste facility.

Louisa Cilenti said:

“We wanted to shape a firm that mirrors the ethos, commitment and boldness of many of our clients. They have a vision for a better (greener) world and we want to play our part in making their vision and ours a reality”.

Tom Bainbridge said:

“Lawyers can be a rather conventional lot. We’re breaking the mould. Our practice is driven by our principles and we’re not afraid to do things differently. We don’t have the overheads or layers of management of a traditional law firm which means we’re focussed on helping our clients, finding them solutions not problems and agreeing fair pricing. But none of that would be possible without the clients we have, who also dare to challenge.”

Sandy Abrahams said:

“This is a really exciting new chapter for us. The work we’re doing is rewarding. Our clients seem to appreciate the shared passion for achieving change and that we can do our “lawyering” in a modern way.”