Ashfords has advised Innova, one of the UK's leading independent developers of utility scale renewable energy projects and data centres, on the sale of the 1GW Enderby battery storage project to Fidra Energy, a European battery energy storage system (BESS) developer headquartered in Edinburgh.
The advanced development project in Leicestershire is set to deliver up to 1,025MW of capacity, making it one of the UK’s largest battery storage projects.
Once complete, the project will support the UK’s clean energy ambitions and will help deliver over 2.4GW of new capacity when combined with Innova's previous two battery storage projects sold in the past 12-months.
Kim Hawkins, corporate partner, said: "It has been a pleasure to work with the team at Innova on this transaction. BESS represents an important feature of our renewable generation stack and is something that is starting to feature more meaningfully in the renewables narrative - and no doubt will play a key role in providing flexible solutions and increasing efficiency as the sector seeks to deliver on targets. In the currently oscillating market, BESS can also represent meaningful opportunities for investors that are looking to capitalise on price fluctuations. Our team has extensive experience in this sector and we were delighted to bring this experience to bear here."
Stephen Humphreys, head of the energy sector at Ashfords, added “It has been great to work with Innova on this sale and testament to our sector’s expertise and understanding of this type of transaction.”
For further information, please contact our energy & resource management team.
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