Redkite advises Egnedol on its £685m renewable energy venture
22 September 2015
Redkite Solicitors recently advised Cypriot-owned Egnedol on its purchase of the former Gulf refinery at Waterston and the RNAD Blackbridge site in Milford Haven.
Egnedol intends to create a new renewable energy facility at the site, an investment which could rise up to £1.6bn over the next five years and hopes to create 560 jobs during the first phase of the investment.
The renewable energy facility will convert biomass into a biogas to be used to produce green electricity or green liquid fuels. The heat and carbon dioxide captured from this process is to be used in food production businesses at the site. Egnedol also hopes to partner with Welsh universities to create a research and development facility on the site to develop further sustainable technologies.
Redkite Partner Lucy Morris, and Associate Alun Price, advised on the property aspects of the acquisition, with Redkite Partner Paul James advising on the commercial aspects. Phil Johns, Commercial Manager of Egnedol Wales said: “We believe our proposal for a clean energy facility at Blackbridge and Waterston has the potential to place Milford Haven at the heart of one of the most exciting growth industries in the world – renewables – bringing much needed jobs and inward investment to Pembrokeshire. Redkite and particularly Lucy Morris and Alun Price have done an exceptional job in handling one of the most complex commercial property transactions in Wales. We are looking forward in co-operating further with the Redkite team to bring the proposed project into fruition.”
Lucy Morris, head of the Commercial Property team stated “We were delighted to assist Egnedol with this unique and exciting project and are looking forward to working closely with Egnedol on the future development of the site”.
If you have any commercial or agricultural property queries call Lucy Morris today on 01267 239 018 or contact her by email at lucy.morris@redkitelaw.co.uk
The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.