Co-development
Developing with partners.
We work with landholders, developers and originators who hold a position but not the capability or the capital to take it forward.
What we bring.
Most early positions are short of the same things: a grid strategy that stands up, an approvals campaign somebody will run, and the commercial and capital work that turns a site into something financeable. That is the part we do, and we take a position alongside you while we do it.
- The investment case, and the capital raised against it
- Acting as developer of record: legal templates, land agreements and the obligations under them
- The approvals campaign, and the consultants who run it
- Grid connection strategy, modelling and the network process
- Transaction design and execution when the position is sold
Structures
Four shapes this usually takes.
Which one fits depends on whether you want to keep the asset, whether you can fund the next phase, and how much of the outcome you want to hold.
| Structure | Who holds the asset | Who funds the development | How we are paid | When you realise |
|---|---|---|---|---|
| Joint venture | A project company both sides hold | Us, against an agreed programme budget | An equity interest that moves against milestones | At sale or financial close, alongside us |
| Development services and a success interest | You | Shared, set case by case | A fee, plus an interest that pays on success | You keep the asset and the revenue |
| Staged buy-in | Both, in agreed proportions | Us, phase by phase | Equity earned by carrying each phase | At sale or financial close |
| Outright acquisition | Us | Us | Nothing from you | On completion, and again at agreed milestones if you want the upside |
Joint venture
A project company both sides hold. You contribute the position, we contribute the development programme and the capital to run it, and the split moves against agreed milestones instead of a number fixed on day one.
Development services and a success interest
You keep the asset. We run the development work under an agreement, paid partly as a fee and partly as an interest that pays at financial close or at sale. This suits an owner who wants the capability and intends to keep the asset.
Staged buy-in
We earn an interest by carrying the cost of the next phase. Grid, planning and environmental work are the expensive part of early development, and this is the structure for a holder who would sooner give up equity than write those cheques.
Outright acquisition
Where you want out of a position, we will look at buying it. It has to be a position with real land control and a credible grid story, and we will tell you quickly if it is not.
How the economics work.
Terms are set project by project, against what each party brings and who carries the risk at each stage. We would sooner have that conversation properly than publish a formula that will not fit your situation.
What we look for.
- Distance to a line or substation that still has capacity
- Land control that survives diligence, which means an option or a lease in place
- A planning pathway with no fatal constraint on it
- A counterparty who is realistic about what the position is worth today
Propose a partnership
Tell us what you hold and what you are missing.