Global law firm Ashurst has advised a consortium comprising Equitix, Aware Super, an Australian pension fund, and the UK's National Wealth Fund, on its investment of £500 million into Eelpower Energy, a UK battery storage platform.
The business will build, own, and operate grid-scale battery storage assets and aims to deliver over 1GW of new battery storage capacity for the UK grid in the coming years.
Working with the investor consortium, Eelpower Energy has identified a portfolio of seed assets which will immediately enter construction, alongside a material pipeline of high-quality, actionable project opportunities to facilitate growth of the platform over time.
The Ashurst team was led by partner Gaby Jones, supported by partners Christy O'Connell and Sara Hamzawi, senior associates James Powell, Lottie White, Alicia Ingham and associates Hugh Morris, Emilia Howard and Vienna Linley and trainee Michal Gruchalski, as well as partner Nicholas Hilder and associate Oscar Jeremy.
Partner Ruth Buchanan and senior associate Claire Bradbury led on employment aspects, while tax advice was led by partner Mark Spinney and associate Aaron Robertson. Partner Nick Goddard, senior associates Peter Mallon and Donald Corbett, and associate Sheen Chan advised on investment funds matters, while competition advice was led by partners Steven Vaz and senior associate Natasha Gromof. Senior associate Joanna Fox led on planning matters.
