JLL advises Gresham House Renewable Energy VCTs on sale of remaining assets

JLL’s Energy and Infrastructure Advisory team acted as exclusive sell-side M&A advisor to Gresham House Renewable Energy VCT 1 and Gresham House Renewable Energy VCT 2 on their joint sale of the remaining 20MWp of Feed-in-Tariff backed solar PV assets to True Green Capital Management LLP.

The sale completed for a total gross consideration of c.£20m and marks an important milestone of the VCTs’ realisation strategy, following a previous disposal of 1,600 commercial and residential rooftop solar installations in April 2023 and a small wind portfolio in March 2026.

Gill Nott, Chair of Gresham House Renewable Energy VCT 1 Plc, and Christian Yates, Chair of Gresham House Renewable Energy VCT 2 Plc, said: “The successful completion of the sale marks the culmination of a lengthy and often challenging process. I would like to thank JLL's Energy & Infrastructure Advisory team for their perseverance and collaborative approach throughout the transaction. Working alongside the Board, the Investment Adviser and the wider advisory team, they helped navigate a range of commercial and technical issues to achieve a successful outcome for shareholders.”

Henry Hanscomb, Associate Director – Energy & Infrastructure Advisory, JLL said: “We are pleased to have supported the boards of the VCTs in reaching this milestone, which will enable a substantial distribution to shareholders ahead of a voluntary liquidation process. The process was faced with a number of challenges to be managed across legal, property and administrative matters, as well as the UK Government’s review of indexation of the Renewables Obligation and Feed-in-Tariff schemes. Despite these challenges, we were able to work collaboratively with the boards of the VCTs, the asset manager and the buyer to address each of these issues in turn and reach a satisfactory outcome for all parties.”