Global law firm Norton Rose Fulbright has advised Gore Street Energy Storage Fund plc (GSEF), London’s first stock market listed energy storage fund, on the acquisition of a portfolio of 81MW UK battery storage assets. The acquisition has increased GSEF’s operating portfolio almost four-fold from 29MW to 110MW, with its total storage assets now totalling 320MW.
The team advised on all aspects of the acquisition, as well as on due diligence and the asset management services that Anesco will continue to provide in relation to the portfolio.
Stephen Rigby, the London-based corporate partner who led on the deal, commented:
“This acquisition significantly increases the size of Gore Street Energy Storage Fund’s portfolio, illustrating the continuing growth and interest in the UK’s battery storage market.As a firm, we continue to be at the forefront of the expansion into new technologies as part of the global energy transition.”
The corporate team included corporate senior associates Alex Wills and Ed Gardner and associates Tom Maturi and Charles Warren. The wider London team included projects partner Andrew Hedges, senior associate Suncica Miletic and associates Claire Tuch and Charles Winch. Partner Matthew Hodkin and associate Daniel Alexander advised on tax matters, with partner Charles Pinkerton and associate Juliette Kelly advising on real estate matters. Partner Sarah Fitzpatrick and associate George Sismey-Durrant advised on planning and environmental aspects.
Norton Rose Fulbright has previously advised Gore Street Energy Fund on the acquisition of Ferrymuir Energy Storage Limited.