Our Corporate Energy Transition Sector team has advised long-standing client, Eelpower, on its participation in a £500 million platform to construct, own, and operate UK BESS assets. The platform is a consortium comprised of Eelpower, an established BESS constructor-owner-operator, Equitix, a leading international investor, developer and fund manager in infrastructure, Aware Super, one of Australia’s top-performing and largest industry super funds, and the UK’s National Wealth Fund (NWF).
Eelpower Energy will originate, construct, own, and operate grid-scale BESS assets and aims to deliver 1GW of new BESS capacity for the UK grid in the coming years. Eelpower Energy is driven by an experienced management team with an established track record in UK BESS delivery, asset management and optimisation.
Mark Simon, CEO of Eelpower Energy, said: “Battery storage is key to enabling the growth of abundant, low-cost renewable energy and without this technology the energy transition cannot succeed. Given the track record of our team in this sector I am confident that Eelpower Energy, supported by the powerful consortium of investors led by Equitix, will accelerate the rollout of flexible energy storage assets across the country that are so critical to delivering the UK’s decarbonisation goals.”
The core team advising Eelpower was led by Global ENNRI Sector Co-Leader and London M&A and Private Equity Team Lead, Partner Gareth Baker working with Principal Associates Róisín Bergin and Alex Farrow and Associate Henry Stride. The core team were supported by a broader team including Partner James Stanier (Commercial Energy & Regulatory), Partner Alexi Markham (Commercial), Partner Ian Piggin (Private Equity), Senior Associate Kiran Gosal and Legal Director Hannah Swindle (Employment), Partner Kate Featherstone (Corporate Tax), Senior Associate Lucy Singer (IP) and Partner Sean Adams (Dispute Resolution).
Gowling WLG's multi-disciplinary Energy Transition Sector team has a first-class reputation advising on renewable and clean energy projects, operating seamlessly around the globe. The team has been very active in the BESS sector, recently advising the Strioga Family Foundation on strategic UK battery storage investment and project augmentation, Harmony Energy Income Trust on its £210 million recommended contested takeover by funds managed by Foresight Group LLP, and the founders of Island Green Power on the sale of its remaining interest to Macquarie Asset Management. The Energy Transition Sector team works closely with the firm's UK Corporate Practice Group which has celebrated an exceptional start to the financial year, delivering a 32% uplift in Q1.