Capability Statement

FIM has established expertise acting across the whole spectrum of renewables development, construction and operation in the UK and Europe.

LANDOWNERS

FIM has marketed sites to developers on behalf of individual landowners and consortiums of landowners formed by FIM to offer developers larger areas for development.

With over 30 years of experience in dealing with land management FIM has the expertise to deal with all issues including access provisions, wayleaves, habitat management plans, tree felling proposals and the detailed terms, both commercial and legal, to be incorporated into option for lease agreements.

Dealing across the whole range of developers active in the UK and a wide range of sites, FIM has a breadth of knowledge to maximise the benefit of any proposed development to the landowner whilst at the same time protecting their long term interests.

FIM's expertise has covered the agreement of terms and documentation for option for lease agreements on over 32 wind farm sites with 18 different developers, ranging from quoted utilities to specialist independent developers, encompassing potential capacity of 840MW. To date, this has resulted in consented capacity of some 130MW.

FIM is actively reviewing properties on behalf of clients and other landowners for opportunities which now arise under the Feed-in Tariff for small scale wind and hydro-electric developments, either as direct developments or via option for lease agreements with developers.

Case Study:
Griffin Wind Farm - FIM advised the landowner on acquiring Griffin Forest and subsequently on entering into an option for lease agreement with Greenpower who have now received planning consent for 68 turbines generating upto 204MW. The landowner will now benefit from the rent arising under the lease which Greenpower are currently putting in place. FIM will continue to advise on the rental options available to the landowner and the other terms of the lease.Read more...

PLANNING

FIM is advising clients in progressing developments through the planning process involving the utilisation of our investor's risk capital.

The service includes the assessment of a risk profile relating to the proposed site, selection and appointment of planning and environmental consultants and management of the process through to consenting.

The first planning application for a wind farm was submitted in Q1 2007 and consent achieved for a 40MW development in Q1 2009.

Case Study:
  Brenig Wind Farm - FIM initiated the process of securing planning consent on a client’s forest property in North Wales. FIM advised the owner on the establishment of a development company (“SPV”) to progress a wind farm on their forest. Options for lease agreements with adjacent landowners were also entered into. FIM acted on behalf of the SPV in managing the preparation and submission of a planning application with a detailed environmental statement by Natural Power Consultants, securing a grid connection offer and managing the legal process throughout (including liaising with other land owners in relation to a Section 106 Agreement).Post completion of a Section 106 Agreement in April 2009, full consent was granted for a 16 turbine wind farm with a maximum tip height of 100 metres. Indications are that 40MW of installed capacity is achievable.

DEVELOPMENTS

FIM has formed a number of Joint Venture (JV) development companies between landowners wishing to take an active interest in a proposed development and a developer selected to progress the site.

Advice extends to the terms of the JV, the documentation between the parties, the management of the JV and the realisation of value arising on planning consent being secured.

The service can extend to working with a developer over a period of time to bring a consented project into a financeable condition, which has the benefits of maximising the value of the project to the developer whilst minimising the risk profile to the investors.

Case Study: Carno 2 Wind Farm - Commissioned March 2009
Carno Wind Farm - FIM Services set up a Joint Venture between FIM Windfarms LP and the farmers behind the Carno 2 Windfarm project, to finance the construction and operation of this 15.6MW development in Mid Wales.Read more...

CONSTRUCTION

FIM organises all the finance, both debt and equity, to construct and commission the project, implementing and controlling the due diligence process leading to early closure of the transaction.

FIM's clients have already financed the development of four on-shore wind farms totalling some 32.4MW:

MW

 Turbines
Arnish Moor, Lewis

3.9

 Nordex N60 - 1.3MW
Wharrels Hill, Cumbria

10.4

 Nordex N60 - 1.3MW
Carno 2

15.6

 Siemens - 1.3MW
Darracott Moor, Devon

2.55

 Gamesa - 850kW

There is a substantial pipeline of deals involving over 50MW now being progressed both in the UK and Europe, including wind farms and hydro electric plants.

Case Studies:

On behalf of clients FIM acquired the project rights, arranged the debt and the construction project management through to commissioning of:

Arnish Moor Wind Farm - 3.9MW at Stornoway, Lewis commissioned Q1 2007.
Wharrels Hill Wind Farm - 10.4MW at Bothel, Cumbria commissioned Q3 2007.
Carno Wind Farm - 15.6MW in Mid Wales, commissioned Q1 2009.
Darracott Moor - 2.55MW in Devon, commissioned Q1 2011.

OPERATION

FIM has established experience on advising owners how to maximise the revenue from a renewable energy project, selling the electrical output and associated ROC's on the wholesale traded market. Depending on the owner's risk profile FIM's experience extends to more typical long term power purchase agreements with major utilities, or utilising the secure income provided by Feed-in Tariffs.

Our service extends to managing and operating the chosen investment vehicle, dealing with accounting and tax matters.