DLA Piper pioneers faster, more collaborative renewable energy due diligence with LiveDiligence
DLA Piper becomes first law firm to incorporate LiveDiligence to its due diligence processes utilising its collaborative and efficient data driven approach
Bristol, 10th January 2024 — DLA Piper, the global law firm, has onboarded software-as-a-service solution LiveDiligence, integrating the data-driven tool designed to offer enhanced efficiency and collaboration into its due diligence process for its renewables clients. LiveDiligence is a unique and specialised platform used by advisors to deliver timely and actionable due diligence insights to renewables investors and lenders.
As the first law firm to onboard this platform into its transaction advisory services, DLA Piper is leading the charge in adopting data driven approaches to better serve its clients, and reinforcing its commitment to a faster and more collaborative due diligence process.
To meet global renewable energy growth ambitions, projects need to be financed and built more quickly. Yet, traditional due diligence often relies on time-intensive reporting processes, which are not always the most efficient means for communicating critical legal and regulatory information to investors and lenders making financial decisions – slowing down the project financing timeline.
Furthermore, in light of the growing financial, regulatory and technical complexity of renewable energy development, it is becoming imperative for the market to establish more efficient channels for communication and collaboration between numerous stakeholders.
To date, LiveDiligence has been battle-tested by technical advisors on over 400 renewables deals, and now DLA Piper becomes the first Legal advisor to adopt the platform for delivering due diligence.
Prior to the wider rollout of LiveDiligence, the team at DLA Piper set a benchmark for the market by completing two successful transactions using the platform for German Bank and renewables lender NORD/LB.
“Continuing to improve the transaction experience for our clients and to reduce the lag time between renewable energy project conception, and the deployment of investor and lender capital are firm priorities for the team,” said Natasha Luther-Jones, DLA Piper’s international head of sustainability and ESG and global co-chair energy and natural resources. “As part of this, we continue to evolve our due diligence processes - all while maintaining the quality of service and insights our clients have come to expect. We’ve been working with LiveDiligence to offer an innovative, interactive and more effective client experience, leading the way in legal due diligence digitalisation.”
Craig Houston, Chief Product Officer, LiveDiligence, highlighted the value this brings: “DLA Piper has an incredible depth of knowledge and industry experience to offer its clients. Our goal is to help its teams deliver the benefits of this knowledge more efficiently than the competition, and to raise the value of those insights by delivering them using modern tools that help their clients close deals with greater confidence. It’s exciting to work with a law firm who is genuinely interested in innovating in the due diligence space, and we look forward collaborating further to deliver best in class legal due diligence.
Joss Boxford, Chief Operating Officer, LiveDiligence, added: “We designed LiveDiligence to simplify the process of de-risking investments, speeding up project financing and deployment. DLA Piper’s decision to embrace the platform underscores its commitment to transforming due diligence for renewable energy projects, and we look forward to supporting the firm in future.”