Leading renewable energy consultancy and service provider, Natural Power, has provided vendors due diligence on behalf of Banks Renewables for the sale of its business to the leading global asset manager, Brookfield.

The project included Banks Renewables' current portfolio of 11 operational onshore wind farms across Yorkshire, the Northeast, the North West and Scotland; and its portfolio of development stage wind, solar and battery energy storage sites.

Neil Marshall, Advisory Lead - Onshore Wind, Natural Power, said: "This was a complex and rewarding piece of work to review such a major UK portfolio and developer. With operational projects, multiple technologies and development stage projects which are always moving forward, there were several challenging aspects to consider.

"Ultimately, we were able to produce concise technical reviews which we believe showed the quality of the operational assets and the care taken in the development process by the Banks team, while still highlighting the remaining work to be done to bring the development projects online."

Natural Power commenced work on the project during the summer of 2022 with the vendors due diligence report being submitted in October 2022. In addition to checking energy yield, planning and grid considerations, Natural Power also produced an in-depth report into the Banks Renewables team, processes and capabilities which were all key selling points in the deal.

Founder and Chairman of the Banks Group, Harry Banks OBE DL, said: "I believe that Brookfield's established position in the renewables industry and the strong cultural fit that exists between both businesses will lead to this acquisition being to the benefit of all parties involved.

"The greater resources of Brookfield will enable the fuller development of opportunities which Banks Renewables are introducing."

Dan Thomas, Operations and Grid Director, Banks Renewables, added: "Neil and the team at Natural Power provided a professional and responsive approach to the assessment of our business and project during the sale process."