Norton Rose Fulbright advises Quinbrook on joint venture with E.ON to construct 230MW solar and battery storage project
EMEA | Press release - Business | 四月 2024
Global law firm Norton Rose Fulbright has advised Quinbrook Infrastructure Partners (Quinbrook) on its partnership with E.ON to construct a consented 350MW Battery Energy Storage System (BESS) project, located in Uskmouth, South Wales. E.ON has purchased a 50 percent share in the project’s capacity and Quinbrook and E.ON will jointly invest in its construction, which is expected to see the project operational in Q1 2025.
Quinbrook is a specialist global investment manager focused exclusively on renewables, storage and grid support infrastructure investment. It acquired the exclusive development rights to the project in June 2022, and commenced construction in November 2023.
Once operational, Uskmouth is expected to be one of the largest battery storage projects in the country and will directly support the UK’s sustainable drive to Net Zero. E.ON’s involvement in the project aligns with its global efforts to facilitate the energy transition through its investments in flexible large-scale storage solutions, which help to improve energy security.
The site was previously a coal-fired power station, and the project will utilise existing infrastructure, minimising local impacts from construction activities and reducing the road transportation required over the course of development. Quinbrook prioritises the use of local contractors and specialists, bolstering industry around the site and limiting travel, further supporting the sustainable credentials of the project. The project supported approximately 130 jobs in the region in 2023 and is expected to create another 140 jobs in 2024.
Jason Moss, London-based corporate partner who led on this transaction, commented:
“High-profile energy storage projects such as this are increasing in regularity, reflecting the maturity of the UK battery storage market. We are pleased to have advised Quinbrook on this important partnership with E.ON, which follows on from its landmark acquisition of the Fortress solar and battery storage project in 2021.”
The team also included partners Rob Marsh (energy, projects), Melusi Dlamini (energy, projects), Wasim Khan (real estate), Matthew Hodkin (tax), Sarah Fitzpatrick (planning), Nari Ertem (corporate) and Lucy Bruce Jones (environment and safety). The team was assisted by counsels Suncica Miletic (energy, projects) and Fareed Muhammed (tax), senior associate Khawaja Akbar (corporate), and associates Katherine Qiu (corporate) and Charles Winch (energy, projects).
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