The results show a clear indicator of the crucial role battery storage, will play in the future of the national grid
The recently published provisional capacity market auction results reveal that approximately 500 MW of battery storage projects have been awarded 15 year contracts. Over 1.4 GW of Demand Side Response projects received one year contracts.
TLT acted on a significant number of the projects that were entered into the National Grid Capacity Market auction, including many of those that were successfully awarded capacity market contracts, particularly in relation to battery storage.
TLT's Maria Connolly said, "We've been at the forefront of the battery storage market from a legal services perspective and have advised on wide range of transactions over the past 12 months. It's great to see so many of these projects having been awarded contracts in the recent Enhanced Frequency Response (EFR) tender and now in the capacity market auction as well. The results show a clear indicator of the crucial role battery storage, will play in the future of the national grid."
This result builds on the success that our clients achieved in the Enhanced Frequency Response tenders, which saw them being awarded 40% of the successful projects.
TLT's Energy & Renewables team is one of only a handful of law firms that has real experience advising on storage projects. The firm has been involved in initiatives such as the Energy Storage Alliance, co-sponsoring REGEN SW's energy storage paper as well as advising a range of clients who are developing, buying, selling and funding energy storage projects.