With diminishing oil and gas reserves and the huge capital costs involved in securing new supplies, there is finally a growing realisation that renewable energy is the future. We have already been active in this sector for a number of years, working with indigenous waste, environmental and renewable energy companies, as they grow their businesses and respond to changing market conditions and increased competition.
The energy sector is facing many challenges including price volatility, shortage and cost of credit, price of capital projects, environmental concerns, land rights and access. As with any other industry it is also faced with quotidian issues and opportunities around competitors, reconstruction and reorganisation, acquisitions and disposals, compliance returns etc.
As a highly regulated sector we are familiar with the compliance requirements and the state supports available ensuring our clients utilise all available reliefs. We are also experienced negotiators when dealing with stakeholders who may not be overly familiar with the issues specific to the sector including banks, private and commercial investors as well as Revenue.
Ireland has a target of generating 40% of electricity consumption from renewable resources by 2020 (the majority of which will be generated by onshore wind). There is on-going state financial support for the sector through the REFIT programme in Ireland (and globally through similar or other mechanisms). Wind energy generation also continues to be well-supported by lending institutions in Ireland.
We have advised clients in this sector when sourcing investment funds and structuring deals. We are familiar with the workings of the “Single Electricity Market Operator” all-island Irish electricity market and provide general business advisory, as well as compliance, services to our clients.
Our advisory team work closely with our energy clients providing the following broad range of services:
- Company secretarial
- EIIS fundraising & structuring investments
- R&D credits
- IP regime
- Project financing
- Transaction support
- Mergers & acquisitions
- Reconstruction and reorganisation
- Due diligence
- Cross border structuring