Ogier in Guernsey advises Drax Group plc on £548 million acquisition of LSE-listed Bluefield Solar Income Fund

Ogier's corporate and advocacy experts in Guernsey have advised Drax Group plc on its £548 million acquisition of the LSE-listed renewable energy company Bluefield Solar Income Fund Limited, a GFSC registered fund.

The acquisition was completed pursuant to a scheme of arrangement before the Royal Court of Guernsey, sanctioning a recommended cash offer.  

Drax has described the acquisition as "transformational", adding solar and wind assets to their generation portfolio for the first time and increasing the role they play in supporting the UK’s goals of strengthening energy security, keeping power affordable and accelerating decarbonisation.  

Ogier's multi-disciplinary team included partner Bryon Rees, counsel James Walsh, managing associate James Dickinson and associate Sam Clarke advising on the corporate, regulatory and financing matters. Partner Alex Horsbrugh-Porter, managing associate Michael Rogers and counsel Fay Warrilow advised on and undertook advocacy before the Royal Court. 

The Ogier team worked closely with Pinsent Masons as lead counsel for Drax and Norton Rose as lead counsel for Bluefield Solar Income Fund.