Hill Dickinson has advised The Circular Economy Developments Limited (TCED) on establishing and structuring its joint venture with global investor and asset manager abrdn to develop a state-of-the-art anaerobic digestion facility in Deeside, North Wales. The facility, which will convert food waste into biomethane and green fertiliser, is funded with debt and will play a critical role in the UK’s transition to a circular economy by reducing emissions and decarbonising high-energy users.
The Deeside project marks a key milestone for TCED, whose unique selling proposition is centred around decarbonising high-energy users by developing a fleet of carbon-negative renewable energy plants. This project will be instrumental in producing renewable energy from food waste while significantly supporting the UK’s sustainability goals.
The Hill Dickinson team was led by corporate partner Alison Starr, with support from Alice Rusling (associate) and Maryska Grant (trainee solicitor). Parin Galaiya (legal director) advised on the banking aspects for TCED. The property acquisition was handled by property partner Emma Roche, assisted by Dian Johnson (senior associate) and Imi Unwin (paralegal).
We are delighted to have advised TCED on its joint venture with abrdn for their first flagship project. It has been a pleasure to work alongside TCED, abrdn, and Ashurst on the successful close. Our congratulations to all those involved.Alison Starr
Corporate Partner
Alison Starr, corporate partner at Hill Dickinson, commented: “We are delighted to have advised TCED on its joint venture with abrdn for their first flagship project. It has been a pleasure to work alongside TCED, abrdn, and Ashurst on the successful close. Our congratulations to all those involved.”
PwC served as lead financial advisor to both abrdn and TCED. The transaction was supported by debt provided by Deutsche Bank and Rubicon.