Independent UK law firm Burges Salmon’s Banking and Finance team has advised on the £33.1 million project financing to fund the construction of the Burtree Lane Solar Farm, bringing benefits to the environment, biodiversity and local communities
The project, Burtree Lane, is the second in Aura Power’s 400 MWp+ ready-to-build solar portfolio to reach financial close with Rabobank, following its success with the Kemble solar project in October last year, in a transaction also facilitated by Burges Salmon.
Once operational, the Burtree Lane project will generate enough clean electricity to power around 14,000 homes while offsetting approximately 10,000 tonnes of CO2 annually. With solar being the lowest cost form of new energy generation, the project will also help to reduce national power prices.
The site is also set to deliver significant environmental benefits, including a 46% biodiversity net gain through landscaping measures such as tree hedgerow and wildflower planting. Additionally, a c.£20,000 per year community benefit fund will be established to support local social, educational, and environmental initiatives. Aura Power’s solar farm will also contribute over £80,000 in business rates to Darlington Borough Council every year.
The Burges Salmon team advising Aura Power was led by associate Emily Cranston, senior associate Elin Blundell and partner Stuart McMillan from the firm’s Banking and Finance team. Emily commened: “At the end of 2024, the UK Government announced its ambition to triple the country’s installed solar capacity by 2030 and therefore it’s been a pleasure to be part of the team facilitating the successful financing for Burtree Lane, a project that stands as a testament to Aura Power’s commitment to supporting the UK’s solar transformation for a decarbonised electricity grid.”
Ali Timms, General Counsel at Aura Power, added: “Reaching financial close on Burtree Lane is a fantastic next step for us in developing our operational UK solar portfolio and we’re looking forward to breaking ground in the summer and energising early next year. Having previously worked with Burges Salmon on our Kemble project, it’s been brilliant to work with Emily, Elin and Stuart who once again guided us through the complexities with ease and clarity.”
Combining sector knowledge with banking and finance expertise, Burges Salmon provides tailored advice to support lenders and borrowers on complex financing transactions in the UK and internationally. The firm’s energy capabilities were recognised in Clean Energy Pipeline’s annual Legal League Tables 2024 with Burges Salmon ranked as the second most active law firm in clean energy M&A deals and in the top 10 Project Finance table, having completed 18 transactions, totalling £936 million.
