AGRICULTURE

Devon Wind Power Limited

This company, one of the South West region’s leading renewable energy companies, acquired permission for a 22 turbine 66 megawatt wind farm located to the north of Barnstaple. We advised the shareholders of Devon Wind Power in relation to the multi-million pound sale of their shares in the company to the ESB Group, the Irish state owned electricity utility. This wind farm, once constructed, will make a huge contribution towards delivering Devon's target of 103 megawatts of renewable energy from on-shore wind power, and will generate sufficient electricity to serve the needs of nearly 30,000 domestic customers. Taking over six months to complete, the deal included the drafting and negotiation of a complex deferred consideration mechanism and security package.