PiP mandated IDCM to refinance a 32MW portfolio of onshore wind turbines located across the UK and Ireland.
IDCM managed the entire process throughout the Covid-19 lockdown, to remotely deliver and execute the refinancing; working closely with all the advisors (legal counsel, technical, insurance, hedging, tax, accounting and model audit) from due diligence through to completion of the restructuring and draw down of the new facilities.
We worked with the Sponsor and their advisors to restructure the ownership of the portfolio, whilst enabling the existing lenders to be refinanced and delivering the optimal structure for the Sponsor and the incoming lender.
This refinancing delivered the Sponsor an improved equity yield and operational management of the portfolio going forward.
“A great partner to work with bringing drive, enthusiasm and empathy to a complex process. Lateral thinking and tenacity found a solution that met our objectives despite the challenging backdrop of a unique pandemic. ”Ed Wilson Chief Investment Officer