Fig Power acquired by The Renewables Infrastructure Group

Our energy and infrastructure specialists advised on the sale of renewable energy projects developer Fig Power to The Renewables Infrastructure Group (TRIG).

Bristol-based Fig Power focuses on battery storage, with a 1.7GW development pipeline.

As lead financial advisor to the company’s owners and management team, our role in making this deal happen included:

• Forming a strategy for the transaction and agreeing this with shareholders and management
• Introducing and facilitating discussions with TRIG
• Agreeing the commercial terms for the deal between the parties
• Supporting due diligence
• Supporting agreeing the transaction documents and management incentive plan all the way through to completion

PKF were instrumental in making this happen. Our team comprised Richard Harris, Bob Meier and Angus Hunter, supported by tax partner Adam Kefford.

Henry Easterbrook, Fig Power CEO, said: “It was a pleasure working with Richard, Angus and the team. PKF were instrumental in making this happen – we’re grateful and delighted!”

Richard Harris, corporate finance director at PKF Francis Clark, said: “Battery storage will have an important role to play in supporting the rollout of renewable energy and the UK’s transition to net zero, so we’re delighted that this deal paves the way for further investment in this vital technology. We look forward to seeing Fig Power build on its track record of success as part of TRIG.”

TRIG, a London-listed renewable energy infrastructure investment company, has said it expects to invest around £20 million in Fig Power over the next two years – approximately half for the upfront consideration and half relating to ongoing development expenditure.

Find out more about PKF Francis Clark’s complete financial advisory service to the renewable energy & infrastructure sector.