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TagEnergy acquired ‘Pitkevy’ – a battery storage project located in Scotland – from ILI Group as part of its plans to strengthen its relationships in the UK market and help accelerate the energy transition to renewable energy. The project is located in Scotland and will connect to the grid in 2024.
ILI Group – a clean energy development company – are developing over 4.5GW of energy storage projects in the UK, with a project pipeline comprising 2.5GW of pumped storage hydro and over 2GW of battery storage.
The transaction was led by TLT corporate partner Damien Bechelli and legal director Joanna Hamilton, supported by Amy Tough and Allison Bruce from the corporate and real estate teams respectively, and Mark Braude and Andree Parker (tax).
Mark Wilson, CEO of ILI Group said: “We’re extremely grateful for the continued support and guidance provided by the team at TLT. Their expert knowledge of the renewables market in the UK was instrumental in helping us conclude this latest transaction, which is one of a number of transactions they helped us to successfully execute.”
Damien Bechelli, TLT corporate partner commented: “Energy storage and supporting the UK’s transition to a renewable energy source is at the top of the agenda of discussions. We were pleased to work with ILI again this battery storage project – a project which will play a vital in helping the UK achieve net zero.”
01 November 2022