Energy, mining and renewables M&A tax | Transaction services

Acquisition of wind farm portfolio (14 turbines) by Alpha Real Capital

26 January 2017

Alpha Real Capital acquires 9.2 MWp wind farm portfolio through their Wind Renewables Income Fund

Moore Kingston Smith has supported Alpha Real Capital, the specialist manager of secure income real assets, with the acquisition of a 9.2MWp onshore wind farm portfolio located in Cumbria from EIS funds.

Alpha Real Capital’s Renewables’ acquisitions and portfolio team have deployed more than £900m in equity since 2013, with 40% of that deployment coming in the last 2 years. Alpha have completed over 60 transactions, including the construction and successful commissioning of 15 schemes.

Matt Meadows and Nathalie Strauss from our corporate finance team and Tom Acland from our M&A tax team provided financial and taxation due diligence and advisory services. Our analysis included a review of revenue generated from government-backed schemes, including ROCs; 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. Further support was provided by Tom through the preparation of a structuring report (strawman paper) to present the tax implications and structuring options for the transaction, whilst both teams provided effective input for the successful placement of W&I insurance.

Matt Meadows, Corporate Finance Partner at Moore Kingston Smith, said: “We are pleased to have worked with the Alpha team to complete another successful transaction enhancing their portfolio. We look forward to assisting with their future transactions.”

If you are considering transactions in this sector and need assistance, please feel free to contact us.