Addleshaw Goddard advises Alight on £34 million financing for UK solar projects

International law firm Addleshaw Goddard has advised Alight, a leading Swedish solar developer and independent power producer operating across Europe, on a £34 million portfolio financing facility from SEB.

The facility will support the construction and operation of behind the meter (BtM) solar installations for commercial and industrial customers across the United Kingdom, providing Alight with an efficient and scalable financing platform to accelerate its growing portfolio. The portfolio comprises more than 50 MWp of capacity, with projects scheduled for commissioning no later than 2027. Each project is backed by a long term power purchase agreement (PPA) offering predictable, long term electricity prices and enhanced energy resilience. Alight was one of the early pioneers of BtM solar in Europe and has signed more than 60 PPAs across the continent.

Addleshaw Goddard advised Alight across all aspects of the financing, including project due diligence, corporate and tax structuring and all financing matters.

Addleshaw Goddard advised Alight across all aspects of the financing, including project due diligence, corporate and tax structuring and all financing matters.

The AG team advising on the deal was led by Rory Connor, Partner and Co-head of Power & Renewables at the firm, and included Frances Proctor (Real Estate), Sarah Baillie (Planning), Jaya Gupta (Corporate), Mike Hunter (Tax), William Morrison (Infrastructure & Energy/Finance), Matt Barnes (Infrastructure & Energy/Finance), Sarah Snowden ((Infrastructure & Energy), Ed Curtis (Infrastructure & Energy/Finance), Jordan Cleary (Infrastructure & Energy/Finance) and Eliana Roccatani (Infrastructure & Energy).

Rory Connor, said: “The transaction reflects the growing appetite among major corporates and their capital providers for localised, low carbon energy solutions, and showcases Alight’s leadership in delivering scalable BtM platforms across Europe. It has been a pleasure working alongside the Alight team and SEB on this deal.”