National law firm Ashfords has advised Mariana UFP, a UK-based asset manager, on the acquisition of two solar parks in the UK.
The sites at South Down Marina, Cornwall and Deepy, Devon, were acquired out of an Enterprise Investment Scheme (EIS) under the Mariana Estate Planning Service.
The Ashfords team was led by Construction and Infrastructure partner Brian Farrell with Infrastructure solicitor Olivia Cassells, and included corporate partner Gales Hawkins, corporate solicitor Gayle Hawke and real estate associate Stephanie Gillam.
Brian Farrell, from Ashfords, said: “It was great to work with the Mariana team again on this transaction, evidencing the possible returns in the secondary market for these legacy EIS Schemes, designed to help business with less than £15m in assets attract investment by offering tax relief for investors.”
Malcolm Richie, for Mariana, said: “We’re pleased to get another investment launched for our clients in the renewable energy sector proving, with good due diligence, that these assets continue to provide our investors with tax efficient clean energy opportunities.”
Mariana was established in 2009 and is headquartered in London from where it operates worldwide.