Harmony Energy, a leading developer, owner and operator of utility-scale battery energy storage, closed a further battery electricity energy storage (BESS) project in collaboration with Fotowatio Renewable Ventures (FRV), in September 2021. FRV is a part of Abdul Latif Jameel Energy and a leading global developer of renewable energy projects.
Fasken advised Harmony on the debt and equity financing of the 99MW / 198MWh project at Clay Tye, near the M25 in Essex, which is the biggest project of its kind under construction in the UK in terms of energy capacity. The project will use a system of Tesla Megapack lithium-ion batteries, together with Tesla’s Autobidder AI software for real-time trading and control.
The site will be connected to the UK Power Networks distribution network, providing the capability to store energy and increase flexibility of the UK National Grid as part of the country’s continuing shift away from fossil fuels.
Fasken advised Harmony in connection with this transaction with a team comprised of Guy Winter, Laura Bradley and Maurice Wong.
Jurisdiction
- United Kingdom
