26 Sep 2022
PKF Francis Clark supports green hydrogen pioneer Tower Group
PKF Francis Clark has been appointed to advise Tower Group on its ambitious plans to harness the potential of green hydrogen to help meet the South West’s future energy needs.
Tower Group (trading as Tower Green Holdings Ltd) is working towards decarbonising the South West of England to ultimately help the region cut its reliance on fossil fuels. With this goal in mind, Tower Group plans to build a green hydrogen production and distribution network in the region by acquiring and operating its own renewable energy sites and assembling a network of green hydrogen off-takers.
Green hydrogen – produced by using renewable energy to power the electrolysis of water – is forecast to be a growing source of energy in the coming years, with uses including heating, transportation and fertilizer production.
Renewable energy and infrastructure specialists at PKF Francis Clark are providing strategic business and corporate finance advice to support Tower Group on its quest to develop a network of green hydrogen power plants in the South West. Bob Meier and Andrew Killick will also advise the developer on securing funding for individual projects.
We are very excited to be working with PKF Francis Clark on our green hydrogen ecosystem for South West England.
Bob Meier, corporate finance director at PKF Francis Clark, said: “Green hydrogen is an exciting emerging technology with the potential to provide businesses in energy-intensive sectors with their own reliable supply of clean energy, as well as making a significant contribution to the UK’s transition to net zero.
“We’re delighted to be working with Tower Group and look forward to using our extensive experience in supporting renewable energy developers to help make its vision of green hydrogen energy plants across the South West become a reality.”
Alex King, director at Tower Group, said: “We are very excited to be working with PKF Francis Clark on our green hydrogen ecosystem for South West England. It is clear that we share a vision of the absolutely vital role that hydrogen will play in cutting the region’s reliance on fossil fuels. We look forward to working expeditiously with the team to further deliver on our plans.”
Other advisers to Tower Group include Foot Anstey and Savills.
Chris Pritchett, partner at Foot Anstey, said: “We’re delighted to start working with Tower Group on its efforts to bolster its green hydrogen supply offering in the South West. As a firm with locations and teams across the South West, it allows us to bolster the green economy and pay homage to our roots as well as advising on advanced energy matters for Tower Group which is at the heart of our specialism. I am looking forward to continuing our relationship with Tower Group and Alex.”
Find out more about PKF Francis Clark’s renewable energy corporate finance specialists.
