TLT advises Eku Energy on acquisition of 300MW UK battery energy storage project

National law firm TLT has advised Eku Energy on its acquisition of TBC 001 Limited from TBC Partners Limited and Ejon Limited, securing the rights to a ready-to-build 300MW battery energy storage system (BESS) project in Didcot, Oxfordshire.

The acquisition adds one of the UK's most significant consented battery storage developments to Eku Energy's portfolio at a time when demand for large-scale energy storage assets continues to grow in support of the UK's transition to a low-carbon energy system.

A key aspect of the transaction was the project's position within NESO's TMO4+ grid connections reform programme. The project has secured a Gate 2 offer, retaining its point of connection under the new gated connections regime, with a completion date in late 2028.

The grid connections reforms represent one of the most significant changes to Great Britain's electricity connections framework in recent years, creating new considerations for developers and investors as they assess project viability, transaction risk and delivery programmes.

TLT's market leading Future Energy team advised on the legal implications of the evolving connections regime alongside the wider transaction, demonstrating the firm's expertise at the intersection of corporate transactions and energy infrastructure regulation.

Alongside corporate due diligence, the team assessed the project's land rights, planning position and grid connection arrangements to provide Eku Energy with a comprehensive view of the legal and commercial risks associated with the acquisition.

TLT's cross-disciplinary Future Energy team brought together specialists across Corporate, Real Estate, Planning, Grid and Tax to provide seamless advice throughout the transaction. They were led by Corporate Future Energy Partner Michael Hamill with Associate Joshua Swain, alongside Real Estate Partner Nick Shenken supported by Senior Associate Monika Hay.

Corporate Future Energy Partner, Michael Hamill said: "This transaction demonstrates the continued strength of investor appetite for high-quality battery energy storage assets. As demand for consented, investment-ready projects continues to increase, strategic acquisitions are becoming an increasingly attractive route to market for energy investors. BESS projects of this scale are playing an increasingly important role in supporting the UK's energy transition by providing the flexibility needed to integrate renewable generation and maintain grid stability. We were delighted to support Eku Energy on this strategically significant acquisition.

Chief Financial Officer of Eku, Erin Lee said: "The acquisition of Didcot represents another important step in Eku Energy's strategy to build a portfolio of high-quality battery storage assets that support the UK's transition to a more flexible and resilient energy system. We are pleased to have worked with TLT LLP on this transaction and look forward to advancing the project towards construction."

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