Michelmores has advised exiting Triple Point VCT investors on the sale of hydroelectric power projects to Triple Point Energy Efficiency Infrastructure Company plc.
Michelmores has advised the exiting Triple Point VCT investors on the sale of a portfolio of operational, Feed in Tariff accredited, "run of the river" hydroelectric power projects with an aggregate valuation of £39.3 million. The projects are based in Scotland and were acquired by Triple Point Energy Efficient Infrastructure Company plc.
As both the investor group and the acquiring party are both managed by Triple Point Investment Management LLP, additional measures were put in place to manage any potential conflict of interest. This included dedicated teams for both the buy and sell sides of the deal.
Of the deal, Alexandra said:
"We are delighted to have acted for the investors in this sale of these hydroelectric assets which represents a strategic disposal for the Triple Point VCTs as well as a strategic acquisition for TEEIC."