CHALLENGE
Savills were approached by Severn Trent Green Power (STGP), a subsidiary of Severn Trent Water PLC, with the ambition of significantly growing their solar business. STGP was already the largest operator of food waste anaerobic digestion plants, but had identified solar as a strategic growth area.
Savills advised that ready to build solar schemes provided the optimum entry point to the market which delivered on their ambitions in terms of scale and speed of delivery.
SOLUTION
Savills utilised its extensive network of developers as well as a data led approach to identify suitable projects. Having considered a number of projects, a portfolio for sale by Elgin Energy was identified as being suitable.
Savills acted as lead commercial advisor to STGP throughout the transaction process, supplying guidance on strategy, coordinating technical and legal advisors, conducting due diligence (DD), financial modelling, and advising on the appropriate bid value.
RESULTS
The transaction was ultimately successful and transacted in June 2024. Overall, the process took around six months from initial information to a successful transaction.