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Shepherd and Wedderburn

1 EXCHANGE CRESCENT, CONFERENCE SQUARE, EDINBURGH, EH3 8UL, SCOTLAND
Tel:
Work 0131 228 9900
Fax:
Fax 0131 228 1222
DX:
551970 EDINBURGH-53
Email:
Web:
www.shepwedd.com

Clare Foster

Tel:
Work 0131 473 5409
Email:
Shepherd and Wedderburn

Work Department

Banking and Head of Clean Energy

Position

Clare is a partner in the banking team (who leads our project finance practice) and is head of Clean Energy at Shepherd and Wedderburn. She is widely recognised and a highly regarded practitioner in the project finance market, with a particular focus on power sector projects (particularly in the renewables arena) and infrastructure projects. Qualified in both Scottish and English jurisdictions she advises clients on projects spanning the energy sector spectrum (including onshore wind, offshore wind, biomass, energy efficiency, tidal and small scale renewables) and infrastructure sector (including health, education, accommodation, transport and waste management). Clare has been involved in some of the highest profile (and in some cases world firsts) finance transactions in these sectors. Clare’s work includes advising UK Green Investment Bank on the development and deployment (both in Scotland and England) of its first product, the Green Loan (with five projects signed to date across the UK), acting for the Renewable Energy Investment Fund in providing project finance debt and equity to MeyGen Limited (the world’s first commercial tidal array project), and advising the senior creditor group on the Scottish aspects of one of the largest and most complex road projects involving bond financing in the UK – The Aberdeen Western Peripheral Route NPD Roads Project. Clients have stated that Clare ‘…impresses with her understanding of the financing of projects’. One source described her as ‘phenomenally good’. Clare regularly acts as lead counsel representing lenders, consortia/sponsors and authorities both north and south of the border and usually leads the multi-disciplinary team required to bring deals swiftly to financial close.

Career

Trained Shepherd and Wedderburn; admitted as a solicitor in Scotland 1996; assistant solicitor/senior solicitor Dundas & Wilson C.S 1996-2001; admitted as a solicitor in England and Wales 1998; associate McGrigors 2001-03; senior associate Dundas & Wilson C.S LLP 2003-06; partner Pinsent Masons LLP 2006-2012; partner Shepherd and Wedderburn LLP 2012 to date.

Member

Law Society of Scotland; Law Society (England and Wales).

Education

University of Strathclyde (1993 LLB (Hons), 1994 DipLP); College of Law, London (1998).

Leisure

Swimming, tennis, travel.


Scotland: Finance

Banking and finance

Within: Banking and finance

Shepherd and Wedderburn undertakes high-end, big-ticket banking and finance transactions on a Scotland and UK-wide basis. Rod MacLeod, Hamish Patrick and Andrew Kinnes have an outstanding reputation in the funds finance space, and the latter two individuals are also well-known for their securitisations experience. In addition, the firm assists clients with real estate finance, leveraged finance, asset-based lending and debt capital markets transactions. In 2017, Patrick Bell and senior associate Lucy Hall acted for FairBriar in the £94.7m financing of the development of the 24.5 acre Middlewood Locks mixed-use scheme in Salford, Greater Manchester. Iain Wishart and senior associate Peter Alderdice advised Gatehouse Bank (a wholly Shariah-compliant investment bank) on the Islamic financing aspects of its circa £60m acquisition of Consort House and Bridge View in Aberdeen; this was one of the largest Islamic finance deals in the Scottish market in 2017. Practice head Fiona Buchanan led a team which acted as sole Scottish counsel to Cerberus European Investments as the seller in a £968.5m securitisation of residential mortgage-backed notes issued by Towd Point Mortgage Funding 2017-Auburn 11 Plc. Clare Foster heads up the clean energy and project finance practices. Senior associate Neil Cowan is also recommended.

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Scotland: Projects, energy and natural resources

Energy (excluding oil and gas)

Within: Energy (excluding oil and gas)

Shepherd and Wedderburn¬†Edinburgh, which is active in high-profile¬†renewable and alternative energy projects across Scotland and the UK, has practitioners with specialist knowledge of areas such as real estate, planning and environment, M&A/private equity and project finance.¬†Patricia Hawthorn¬†recently led a team which successfully represented Neart na Gaoithe Offshore Wind (NNG) in judicial review proceedings brought by the RSPB, following the decision by the Scottish Ministers to grant consent to four offshore wind farms in the Forth and Tay including the 450MW NNG project. The group is currently assisting the same client with other issues connected with the project, including a new consent application, the acquisition of land rights and banking-related matters. Scott McCallum, Stephen Hubner, Liz McRobb¬†and others are advising¬†√ėrsted on the planning, environmental, property and commercial aspects of the 1.8MW Hornsea Two Offshore Wind Farm. In 2017, clean energy head¬†Clare Foster¬†(who is also the head of project finance) led a cross-practice team, which acted for AOE Windfarm in the¬†¬£16.6m¬†refinancing of a newly-acquired operational 11.5MW onshore wind farm. Gordon Downie¬†is an expert in¬†UK/EU competition law and regulatory issues. Colin Robertson, Colin Innes, Daniel Lee¬†and senior associate¬†Nicky Pascoe¬†are also recommended.

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Scotland: Public sector

Health

Within: Health

Shepherd and Wedderburn handles capital projects and finance work for major care home operators and healthcare investment funds. It also acts for public bodies, including Councils and NHS Trusts, in relation to major NPD, hub and PPP transactions. Practice head John Elder is advising care home operator, Four Seasons Health Care Group, on Scottish aspects its restructuring and refinancing project, including a new facility agreement and the preparation of restructuring proposals for its third party landlords. Clare Foster and Stephen Colliston are advising NORD/LB on all aspects of the DBFM project for two health and care centres at Gorbals Health and Care Centre and Woodside Health and Care Centre; a mandate that includes assistance with project management, property, procurement, construction, facilities maintenance and finance. Daniel Lee is advising US-based MedSource on its acquisition of data trial services business, Datatrial, and post-transaction integration, which involved complex data protection issues.

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