International legal practice Osborne Clarke has advised Foresight Solar Fund Ltd (FSFL) and JLEN Environmental Assets Group Ltd (JLEN) on their acquisition of 50MW Clayfords Energy Storage ("Clayfords") project in Scotland from renewables group, Intelligent Land Investments (ILI).
Clayfords holds the development rights to construct a 50MW lithium-ion battery storage plant based in Buchan, Aberdeenshire, which will be connected to the Scottish Hydro Electric Power Distribution network. The project is fully consented, construction-ready and is expected to start commercial operations in Q4 2024.
Osborne Clarke Partner, Chris Yeo, who led the team advising the purchaser said:
"We were delighted to support FSFL and JLEN in this transaction, which further highlights investor commitment to back projects supporting the energy transition."
The Osborne Clarke team also included Associates Hannah Stevens and Jay Eng (corporate), Associate Shraiya Thapa (projects) and Associate Ben Doeh (tax). The team at Harper Macleod were led by Omar Ali and Peter Ferguson who advised on the 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. As businesses strive to meet the challenges of decarbonisation, Osborne Clarke is supporting its clients on projects to procure, fund and develop the sustainable infrastructure, buildings and land use of the future. The team’s experience and understanding of the energy sector means they are well placed to advise on your decarbonisation journey.