TLT has advised Low Carbon on the real estate aspects of the first two energy storage projects to be developed through its joint venture with VPI Immingham, part of the Vitol Group and owner of one of the largest combined heat and power plants in Europe.
The new joint venture vehicle, VLC Energy, will drive forward growth in energy storage and renewables in the UK through a pipeline of projects.
The first two energy storage projects will be a 40MW site in Glassenbury, Kent and a 10MW site in Cleator, Cumbria, which account for 25% of the total Enhanced Frequency Response (EFR) contract capacity awarded by National Grid and also won a contract in the Capacity Market Auction for supply in 2020. Both sites will be connected to the electricity network by the end of 2017.
The TLT team advising on the joint venture was led by Energy & Renewables Associate Matthew Grimwood with support from Planning Solicitor Kate James. Commenting on the deal, Maria Connolly, Head of Energy & Renewables, said: “We were delighted to be closely involved with key aspects of a deal that represents a significant development in the UK renewables market, and at a crucial time for the sector.”
Ian Larive of Low Carbon added: "TLT have supported us across a range of renewable and storage projects and we are continually impressed with their flexible approach and pragmatic advice. Thank you to the TLT team for helping us to get these projects to where they are."
TLT's Energy and Renewables is one of only a handful of UK law firms that has real experience advising on energy storage projects. The firm has also been involved in initiatives such as the Energy Storage Alliance and co-sponsored REGEN SW's Energy Storage paper.