Freeths advises Wattstor on £50 million debt facility with Aldermore Bank
Leading law firm Freeths has provided legal advice to Wattstor on a new debt financing of up to £50 million from Aldermore Bank to support the growth of its Price Protect project portfolio.
Wattstor is a next-generation energy company that provides commercial and industrial customers with low-cost renewable electricity. The business develops, installs and operates onsite renewable generation and battery energy storage systems, supporting customers to achieve greater long-term energy cost certainty and reduce exposure to market volatility.
Aldermore Bank is a UK specialist bank providing funding solutions to small and medium-sized businesses. Through its energy and infrastructure finance team, Aldermore supports renewable energy and infrastructure projects across the UK.
The new facility will be used to part-fund Wattstor’s first three Price Protect projects, with further drawdowns expected as additional projects reach financial close. The funding will support Wattstor’s plans to finance more than 15 projects over the next 12-24 months.
The debt financing is complemented by additional equity investment from Wattstor’s private equity backer, Ara Partners.
Leading the Freeths team on this deal was Banking & Finance Partner Amy McVey, supported by Head of Clean Energy Clare King, Corporate Managing Associate Megan Atack and Banking & Finance Associates Rebecca Banner and Jay Elder.
Commenting on the deal, Amy McVey said: “This transaction provides Wattstor with a flexible and scalable funding platform to support the continued rollout of its Price Protect portfolio. It was a pleasure to work with the Wattstor team and the wider adviser group on a deal that has been carefully structured to accommodate ongoing project deployment.”
ABOUT FREETHS
Freeths is a top 50 commercial law firm, trusted by leading private and public sector clients including Centrica PLC, ENGIE, Aldi, Mercedes-Benz UK, Tarmac, Experian, and Lloyds Bank.
Recognised for its landmark High Court victory for 555 sub-postmaster clients against the Post Office – one of the most significant miscarriages of justice in British legal history – Freeths continues to advise on the subsequent GLO and Horizon Convictions Redress compensation schemes.
As a certified B Corporation (B Corp), Freeths is committed to responsible business practices, demonstrating its focus on delivering the highest standards of environmental and social impact, governance and inclusion. This commitment is reflected in accolades such as Diversity Champion status from Stonewall, Gold accreditation from Investors in People (2025), Tommy’s Champion status (2025), and recognition as a Top 30 Employer by Working Families (2025). Freeths is also featured in the Legal 500 Green Guide 2026 for its sustainability leadership.
An award-winning firm, Freeths has been named Law Firm of the Year at the City AM Awards 2025 and the Legal Business Awards 2024, and was runner-up for UK Firm of the Year at The Lawyer Awards 2025.
