Global law firm Norton Rose Fulbright has advised Gore Street Energy Storage Fund PLC (Gore Street), London’s first stock market listed energy storage fund, on its acquisition of Ferrymuir Energy Storage Limited.
The acquisition of this project brings Gore Street’s total portfolio size to 239MW, the largest of any UK-based manager. Gore Street will arrange and manage the construction of the project, which is scheduled to become operational in 2022.
Stephen Rigby, the London-based corporate partner who led on the deal, commented:
“We are starting to see more energy storage project deals coming through, illustrating the growing maturity of the UK’s battery storage market. We are very pleased to have advised Gore Street on this significant addition to its portfolio of projects. As a firm we are at the forefront of the expansion into new technologies as part of the transition to a low carbon economy. Other technologies we have advised investors on so far in 2020 include floating wind, waste plastics to energy, and low carbon transport.”
The team also included partners Andrew Hedges and Matthew Hodkin, senior associate Alex Wills, and associates Tom Maturi, Daniel Alexander and Inga Aryanova.