Joint-family office TBC Partners has secured a £5 million debt facility from investment manager Triple Point, with the support of law firm Shakespeare Martineau.

The long-term agreement will support the development of three Battery Energy Storage Systems (BESS) across the UK, which will contribute to balancing the electrical grid and bringing new renewable energy projects online.

Once energised, the TBC Partners BESS portfolio will store enough energy to power approximately 2,485,000 homes for a two-hour period, significantly bridging the issue of intermittent power supply.

TBC Partners is a family office focused on developing and empowering innovative platforms in the energy transition and impact space. It was founded by Paul Gazzard, Matthew Clare and Richard Shardlow, a team experienced in developing businesses and building asset portfolios into investable platforms. Having exited their first platform Arlington Energy to a Sovereign Wealth Fund in 2022, TBC Partners’ first task is to complete the development of 870 MW/1,740MWh of UK BESS.

Richard Shardlow, partner at TBC Partners, said: “As a funder in energy transition, the team at Triple Point have shown high levels of engagement and a refined understanding of the asset class that TBC Partners has brought to them. We are delighted to take this first step in partnership to develop platforms and unlock projects together across the energy transition and impact verticals. We are equally delighted with the advice and expertise from Shakespeare Martineau, who helped us each step of the way and has continued to provide us with a best-in-class service”.

Banking expert Russell Jarvis and corporate partner Peter Mayhew, both of Shakespeare Martineau, led the deal on behalf of TBC Partners.

Russell said: “There is a huge appetite from funders for projects and investments in the ESG space – I don’t think this will be the last investment deal we see for TBC Partners, given their business credentials and energy expertise.”

Peter, who provided corporate advice on the deal and co-led the legal team that supported the TBC Partners’ founders exit of Arlington Energy, said: “It’s great to see investors recognising the value in UK-based energy innovation and technology. We’re delighted to continue working with the team at TBC Partners, which is in a unique position to support business in the green energy space.”

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Published: 19th January 2024
Area: Banking & Financial Services

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Peter leads on a wide range of corporate transactions, from fund structuring and launches to private equity investments, disposals and restructurings, and general corporate governance.

Corporate banking specialist Russell Jarvis has more than 30 years’ experience acting for a wide spectrum of lenders including major banks, sponsors and debt funds across a wide number of sectors focusing particularly on the commercial, SME and mid markets space.

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