International legal practice Osborne Clarke has advised leading independent infrastructure and private equity investment manager Foresight on its acquisition of the 50MW Blackpark energy storage project in Scotland from and renewables group Intelligent Land Investments (ILI).
Foresight Group senior investment manager Toby Virno said: “Foresight has continued its momentum in the energy storage space through the acquisition of the Blackpark battery storage project. This marks the third grid-scale acquisition for Foresight over the past seven months. We recognise the critical role energy storage projects play in the decarbonisation of the electricity grid and are actively reviewing additional opportunities.”
Osborne Clarke Partner, Chris Yeo, who led the team advising Foresight said:"There is no doubt that energy storage has a huge role to play in supporting the energy transition with its potential to manage intermittency and lower the cost of supply. Foresight is a leading investor in energy infrastructure, we are proud to have worked with them over a number of years and delighted to have been able to advise them in relation to the acquisition of this project, and the on-going contractual arrangements.”
The Osborne Clarke team was led by Partner Chris Yeo with support from Associate Hannah Stevens from the Corporate team, Associate Director Deborah Harvey and Associate Shraiya Thapa from the Projects team and Senior Associate Helena Zaba from the Tax team. The team at Harper Macleod were led by Omar Ali who advised on Scottish law aspects of the transaction.
Osborne Clarke has an established and well-respected position as one of the leading law firms advising on renewable energy projects and transactions. For over 20 years, it has helped clients to seize new opportunities and meet the challenges of making energy generation clean, affordable and secure. The combination of the team’s experience and understanding of the energy sector means they are regularly called upon to support businesses on all aspects of their commercial, regulatory, corporate, finance and construction legal needs.