Following his arrival earlier this month, Nick Shenken, clean energy real estate partner at TLT, spoke to Clean Energy Pipeline about why he joined TLT and what's happening in the UK and Scotland clean energy markets.
By Clean Energy Pipeline
Nick Shenken, newly-appointed clean energy real estate partner at TLT, told Clean Energy Pipeline that the UK law firm is paving the way for innovation and disruption in the renewable energy sector.
Shenken joins TLT following twenty years at Pinsent Masons where he launched their energy real estate practice in Scotland.
The new TLT partner has advised clients on all aspects of clean energy projects related to generation, distribution and supply of centralised and decentralised energy.
He has worked across onshore and offshore wind, biomass and marine power technologies and was drafted in by TLT to join their specialist multi -disciplinary team.
Shenken said: “I was looking for a firm that was in growth mode, that was entrepreneurial and nimble, and that was also showing that it wanted to be a bit ahead of the game in terms of the areas of the market that it was attacking.”
The Committee on Climate Change published a report on Monday declaring that Scotland was leading the way in decarbonisation in the power sector, but that the country was lagging in other key areas such as transport, heat and agriculture.
Shenken thought the report to be representative of the whole UK, noting that more innovation and disruption around energy storage, energy efficiency and electric vehicles is needed against the backdrop of federal decarbonisation targets.
“We know that power is doing well against the targets that we have set for ourselves. Heat and transport are doing less well, and we need to focus on those,” he commented.
“EVs are definitely coming. The uptake of vehicles shows that the attitude of various manufacturers is also responding to that.”
The UK government launched its ‘Road to Zero’ white paper in July outlining a series of measures to help enable the UK become a global leader in green transportation such as a £400 million Charging Infrastructure Investment Fund.
“We are seeing policy start to come around to that too. The reality is we will need planning policy and we will need charging infrastructure for new developments,” he added.
“At TLT we are seeing an uptake in interest in developers looking for sites for charging infrastructure, consistent with the government’s idea that this can be market led.”
Over $200 million of project financing was reported by Clean Energy Pipeline in the UK’s battery storage sector in H1 2018 as utility-scale lithium ion batteries prove to successfully provide a number of services to existing grid systems.
TLT was already an early-mover in the sector having advised the Renewables Infrastructure Group on its investment in August 2017 in the 20 MW Broxburn battery storage project.
Shenken continued that there is room for further innovation within this technology, particularly in improving the energy efficiency of homes.
“There is more to come [in the storage sector] looking at behind-the-meter storage, not grid-scale necessarily. I think we will see some further developments with batteries in homes,” he said.
Businesses and homeowners can mitigate against spiralling energy costs by installing behind-the-meter energy storage solutions.
Offering behind-the-meter technology is just one way that new entrants can innovate and disrupt across the UK's rapidly changing energy sector.
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