TLT advises SWIFT on investment in biomethane projects

Bristol-headquartered law firm TLT has advised the SWEN Impact Fund for Transition (SWIFT), managed by SWEN Capital Partners, on its investment in two anaerobic digestion plants in the UK as part of its rapid portfolio expansion.

The first project, completed on 31 December, involved the investment in and development of an anaerobic digestion plant and biogas upgrading facility at Stanton Energy Plant in Derbyshire.

The second project, completed last month, saw SWIFT invest in Charlton Park Biogas Limited alongside co-shareholders Host and RAW Energy, for the biomethane-to-grid anaerobic digestion project located in the South West of England.

Both projects are quickly moving to the design and construction phase, and are aiming to achieve the first gas injection in March 2022, delivering reliable and performing biomethane facilities that are set to make a real impact in the fight against climate change.

SWIFT, the first investment fund in Europe dedicated to green gases, took a majority stake in both projects.

The TLT team was led by corporate partner Antonia Silvestri, who advised on the investment and corporate financing arrangements. Nick Pincott, partner, advised on all the project documentation, including the operation and maintenance agreements and the engineering, procurement and construction contracts. They were supported by Nick Rains and Scott Harding (corporate), and Andrew Brown (real estate). Legal director Stuart Urquhart advised on Renewable Heat Incentive and feedstock and digestate arrangements.

Antonia Silvestri, partner at UK law firm TLT, says: “Biomethane projects are fast moving to the forefront of the UK’s energy mix. These projects contribute to both electricity and gas generation, helping to de-carbonise the UK’s energy and heat markets, and increasingly also de-carbonising the transport sector with the use of biogas under the Renewable Transport Fuel Obligation.

“It was a pleasure to assist SWIFT in its first steps into the UK and we look forward to supporting them again on future projects as the fund continues to expand its portfolio.”

Francois Pasquier, SWEN’s fund investment director, says: “Thank you to the TLT team for their great support in achieving both projects in a tight timeframe, we are grateful for their responsiveness and ‘can do’ attitude that has been a real asset to the deal team in these challenging time.”

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