The Belfast team of Pinsent Masons advised a UK renewable energy firm on the sale of a Northern Ireland wind farm to Italy’s largest renewable energy company.

Energy lawyer Martin McGonigle said he was pleased to have achieved a deal despite the uncertain market conditions facing the industry.

ERG Renew purchased Brockaghboy Wind Farm from TCI Renewables. The development outside Garvagh, Co. L’Derry has permission for up to 19 turbines generating a potential 57MW of electricity, one of the largest in the region.

The deal was completed despite the lack of clarity around a potential replacement for the renewable energy support regime, Renewables Obligation Certificates (ROCs), which will close at the end of March for large-scale on-shore wind projects.

Mr McGonigle said: “We are delighted to have completed this transaction with a structure that aligns the interests of TCI and ERG to optimise the value of the project throughout construction, but also provides both parties the protections necessary given the on-going regulatory uncertainty within the industry.”

He added: “As one of the world’s leading Energy legal teams we believe this deal offers the market clear direction on how to mitigate legislative risk, but also maximise value from this excellent project in Northern Ireland. We believe the structure achieved successfully with ERG will be used increasingly on projects throughout Europe during periods of similar regulatory transition.”

TCI will remain involved with the development during its build phase and operation due to its experience of the Northern Ireland regulatory landscape.

Peter Craig, director of TCI Renewables, said: “We are pleased to be working with ERG Renew under a development services arrangement where they finance the construction of Brockaghboy wind farm and we jointly work to delivering the operating asset and sharing the realised value of this high quality project.

“A big thank you to the Pinsent Masons team for managing this transaction through extremely challenging market conditions.”