Norton Rose Fulbright advises Quinbrook on UK’s largest synchronous condenser portfolio financing

Global law firm Norton Rose Fulbright has advised Quinbrook Infrastructure Partners (Quinbrook) on a landmark £156 million debt financing for the UK's largest synchronous condenser portfolio.

The financing supports Quinbrook's Severn portfolio of synchronous condensers, comprising of the Cilfynydd project in South Wales and the Sellindge project in Kent. The transaction was led by a consortium of lenders including Standard Chartered, Barclays and Siemens Financial Services through Siemens Bank.

Both projects are currently under construction and are expected to be completed in 2027 and 2028 respectively. Once operational, the Severn portfolio is expected to deliver a combined 2,531 MVA of short-circuit level, providing essential stability services to the UK electricity grid.

The multidisciplinary Norton Rose Fulbright team was led by London-based Global Co-Head of Energy Rob Marsh, who was supported by special counsel Chris Aird, associates Georgia Foulkes-Hartley and Hannah Duke and a wider team on the finance and due diligence work streams.

Rob Marsh commented:

"It has been a pleasure to support Quinbrook on another successful financing in this sector and to continue our partnership with the team. Synchronous condensers will play an increasingly important role in maintaining grid stability and resilience and Quinbrook are now the largest private owners of this asset class in the UK so we are delighted to have helped them deliver this second portfolio financing."

Norton Rose Fulbright recently advised Quinbrook on the UK's largest PV and battery storage project financing for Cleve Hill Solar Park as well as Quinbrook's first investment in Ireland.