Feed-in tariff legal perspective
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This document discusses 4 key parts of a talk on solar PV projects: 1. The contractual structure involving an RP/LA forming an SPV and leasing roof space. 2. Procurement considerations for the SPV as a potential "contracting authority". 3. The SPV structure being a commercial for-profit entity. 4. Other legal considerations including tenant agreements, consents, and lender requirements.
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Feed-in tariff legal perspective
- 1. 4 parts of this talk Contractual structure Procurement SPV structure Other legal considerations 05 February 2011 1
- 2. Contractual structure RP/LA forms the SPV RP/LA leases roof space to SPV Works contract between SPV and G Purchase 05 February 2011 2
- 3. Contractual Diagram RP/LA Warranties Special Purpose Vehicle Lease of roof space Works and maintenance contract G Purchase Supply chain 05 February 2011 3
- 4. Procurement (1) Public Contracts Regulations 2006 – Applies to “contracting authorities” – Purchasing works, services or supplies
- 5. Procurement (2) Contracts between RP/LA and SPV – Lease – exemption for land transactions SPV letting contracts – Is the SPV a “contracting authority”? 05 February 2011 5
- 6. Procurement (3) Is the SPV a “contracting authority”? – Association formed by the RP/LA? – Meeting needs in the general interest? – Having an industrial or commercial character? Ensure SPV has: – “commercial character” 05 February 2011 6
- 7. Legal nature of the SPV For profit and commercial entity – LLP structure – Company limited by shares Profits covenanted to RP? Profits returned by rent? 05 February 2011 7
- 8. Other legal considerations (1) Your relationship with tenants – Variation of tenancy agreement – Tenants’ promises • Right to enter for inspection of equipment • Not to interfere with equipment – PRTB (s117) or RTBs 05 February 2011 8
- 9. Other legal considerations (2) Consents – Section 9 consent Lender’s consent On-lending Stock transfer – development covenants / clawback 05 February 2011 9
- 10. Any questions? Richard Brooks – Associate, Anthony Collins Solicitors LLP – 0121 214 3633 – richard.brooks@anthonycollins.com 05 February 2011 10