Leading solar and wind installation and development company The Green Company (Europe) Limited (“TGC”) announces that it has secured investment from leading private investment fund, Constantine Group plc. Baker Tilly Corporate Finance and Veale Wasbrough Vizards advised TGC on this transaction which will enable the business to continue its successful development.
Established in 2006 and with offices in Bristol and Glasgow, TGC installs and develops solar photovoltaic (PV) farms and also medium scale wind turbine projects for landowners, businesses and investors. The company provides customers with a turn-key service from initial concept, through permitting, installation, commissioning and operations.
The funding from Constantine, which has over 125 years’ investment experience, provides the increased capital TCG needs for the continued growth and security of its renewable partners over the life of the FiT and beyond.
Ben Cosh, Managing Director of The Green Company, said: “The Green Company has led the way in distributed renewables in the UK for the past four years and with the introduction of the 25-year returns available from the feed-in tariff we required an investor who would work with us and be involved for the long term.
“We were impressed with Constantine’s long term view, mirroring the long term nature of solar and wind projects and the long term issues embodied in energy security and climate change”.
Constantine Group is celebrating its 125th year of trading in 2010 and as part of its entrance into the energy sector has acquired a 33% stake.
Nigel Prescot, Chief Executive of Constantine Group, said on completion of the transaction: “We have been looking for a strategic investment into renewable energy for some time. Ben Cosh and his team have the experience and dedication to maintain TGC’s market leading position in this fast growing sector”.
Baker Tilly Corporate Finance Partner, Andrew Killick who led the transaction advice added: “Many companies have tried to jump on the Feed-in Tariff bandwagon but very few have the track record and experience of TGC, and I believe that bringing it together with Constantine will be to the benefit of both parties”.
Nathan Guest, Corporate Partner at Veale Wasbrough Vizards who advised the Company on the investment said: “Having assisted The Green Company through its early development stages, Constantine's investment gives the Company an exciting future both here in the South West and across the UK as a whole”.
The Green Company (TGC) was established in 2006 and was the first wind turbine company in the country to successfully obtain its Microgeneration Certificate (MCS). The team has carried out 1000’s of planning applications and has a 95% success rate with wind turbines.
TGC is developing its own solar and wind projects and also works on a consultancy + build for clients and investors across sites that are residential, commercial and agricultural.
TGC is operating solar farm public consultation exhibitions across Cornwall from August 9th-11th 2010 for its 2-5MW solar plants that it is currently developing.
Constantine Group plc is a privately-owned investment company which began as a shipping company in Middlesbrough in 1885. It is a long term investor and works closely with the local management to develop businesses to achieve their strategic objectives.
Baker Tilly is the trading name of a number of separate legal entities which together form a £191m (gross fee income), top 10 business of accountancy, tax and business advisers to entrepreneurial businesses. Baker Tilly has over 1,750 members of staff and over 260 partners with 28 offices throughout the UK.
Baker Tilly International is the world’s 8th largest accountancy and business advisory network by combined fee income of its independent members. It is represented by 147 independent firms in 114 countries with combined fee income of US$3.13bn and 26,000 people worldwide.
Source: The Green Company
