Elm Trading completes two renewable energy SPV acquisitions

10 March 2021 / Insight posted in Articles

Moore Kingston Smith has supported Alpha Real Renewables as adviser to Elm Trading with the corporate acquisitions of an operating solar site and wind farm. The transactions, which both completed in February, complement the company’s existing portfolio and are part of its ongoing strategy of investment in UK renewable energy assets.

Specialists from our corporate finance and M&A tax teams provided financial and taxation due diligence and advisory services. Our analysis included a review of: revenue generated from government-backed schemes, including ROCs and FiT; net current assets; identification and quantification of the tax attributes of the target; and the availability of tax attributes with a focus on plant accumulated capital allowances. Both teams also assisted in the review of the financial and tax warranties in the sale and purchase agreement.

Elm Trading is a UK-based investor with a portfolio of property lending, renewable energy, self storage and commercial forestry. It is a long-standing client of Moore Kingston Smith and our team has advised the company on 18 successful acquisitions to date.

Matt Meadows, Corporate Finance Partner, said: “It has been a pleasure working with the team at Alpha over the last five years. We look forward to continuing to support them on future transactions, as demand for renewable energy grows inexorably.”

If you are considering making an acquisition and need assistance, please contact us.