Energy storage

As a first mover in energy storage we have advised on some of the UK’s pathfinder large scale standalone energy storage projects, National Grid contracted battery energy storage projects – including a significant number of projects which were awarded National Grid EFR, FFR and Capacity Market contracts – and multi-technology projects which combine energy storage with other assets such as solar or wind.

Because we are embedded in the sector, we are connected to and act for key stakeholders including developers, funders, asset managers and investors. Our multi-disciplinary team advises on all aspects of energy storage projects including real estate, planning, finance, corporate, grid, offtake, PPA and construction advice.

Our recent experience includes advising:

• Advising on operational, shovel ready and development stage projects across all UK jurisdictions
• Advising banks and funders in relation to the project structuring and funding options for multi-technology, grid balancing and stand-alone energy storage projects.
• Providing go-to-market advice in relation to different revenue models including corporate PPAs, complex private wire projects with a long-term take-or-pay PPA, and bespoke contracts that provide secure revenue streams.

We are associate members of the Electricity Storage Network.

Highlights

• TagEnergy on its partnership with Balance Power to build, own and operate 500MW of battery energy storage system projects across the UK. Running alongside this partnership, the two firms will invest over £300 million in order to construct the projects over a period of four years.
• Santander in relation to its new funding to Zenobe, taking the total provided – in the form of a non-recourse debt facility – to over £60m. Following this funding Zenobe will begin construction on 100MW battery at Capenhurst, near Chester. The battery will be Europe’s biggest and the first to absorb reactive power directly from the grid.
• BlackRock Global Renewable Power III on its new joint venture with battery storage developer KX Power Limited. Under the joint venture, BlackRock commits up to £200 million to fund the development, construction and operation of battery storage projects in the UK.