West Wales law firm Redkite Solicitors advised Cypriot-owned renewable energy company Egnedol on one of the most significant land purchases in Pembrokeshire.
The deal saw the purchase of the former Gulf refinery at Waterston and the Royal Naval Armaments Dept (RNAD) Blackbridge site in Milford Haven.
Egnedol intends to create a new renewable energy facility at the site, an investment which could rise up to £1.6billion over the next five years and hopes to create 560 jobs during the first phase of the investment.
The renewable energy facility will convert biomass into a biogas to be used to produce green electricity or green liquid fuels.
The heat and carbon dioxide captured from this process is to be used in food production businesses at the site.
Egnedol also hopes to partner with Welsh universities to create a research and development facility on the site to develop further sustainable technologies.
Partner Lucy Morris and associate Alun Price advised on the property aspects with Partner Paul James advising on the commercial aspects.
Phil Johns, commercial manager of Egnedol Wales said: “We believe our proposal for a clean energy facility at Blackbridge and Waterston has the potential to place Milford Haven at the heart of one of the most exciting growth industries in the world – renewables – bringing much needed jobs and inward investment to Pembrokeshire.
“Redkite, and particularly Lucy Morris and Alun Price, have done an exceptional job in handling one of the most complex commercial property transactions in Wales.
“We are looking forward in cooperating further with the Redkite team to bring the proposed project into fruition.”
Lucy Morris, head of the commercial property team at Redkite, said: “We were delighted to assist Egnedol with this unique and exciting project and are looking forward to working closely with Egnedol on the future development of the site.”
Alun Price, who specialises in the legal aspects of renewable energy, said: “The first phase of the total electricity output is to be up to 50 MW and it is hoped that this will ultimately increase to 350MW which will be a huge contribution to increasing the country’s green energy production”.
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