Burges Salmon has advised Kona Energy on the sale of an upcoming 200MW battery storage facility to Gore Street Energy Storage Fund (GSF), a listed energy storage fund encouraging the transition to low carbon power.
The project is located in Heysham, Lancashire, and will be connected directly to National Grid’s transmission network. Kona Energy got planning approval for the project in May this year and the facility will help increase utilisation of energy from six offshore wind farms, which connect to the grid nearby.
Kona Energy is one of the UK’s leading clean energy development companies. It is focused on developing grid-scale battery energy storage projects. These flexible assets are key to balancing energy supply and demand and increasing the utilisation of renewable power on the electricity system. Kona Energy is developing a 1000MW portfolio of large scale energy storage projects across the UK.
The project is one of the largest storage projects of its kind in Europe and GSF’s largest acquisition to date. With this acquisition, GSF’s portfolio will consist of 25 projects with a total capacity of 898MW in operation and construction in the UK, Ireland, Germany and the US.
The Burges Salmon team advising on the deal was led by partner Camilla Usher-Clark, senior associate Danny Perera, and associate Dan Wood, all from the firm’s Corporate team.
Camilla Usher-Clark comments: “We are delighted to have helped Andy and the Kona Energy team on this deal, the first of an exciting 1GW pipeline that Kona Energy is focused on developing.”
Andy Willis, Founder Director of Kona Energy, adds: “As one of Kona Energy’s first major transactions, we decided to instruct Burges Salmon based upon their outstanding reputation within the UK renewables and storage industry. Our decision was vindicated, the quality of service was excellent. We’d like to thank Camilla, Danny and Dan for their commercial awareness, diligence and thoroughly personable approach throughout this transaction.”