Burges Salmon has advised JLEN on the deal.
JLEN, the Foresight-advised environmental infrastructure investment fund, acquired Gigabox South Road Limited, which holds the development rights to a 50-megawatt lithium-ion battery storage project in Dundee, Scotland.
London Stock Exchange-listed JLEN will invest up to £21.2 million over the next 12-15 months in the project, also known as West Gourdie, which is fully consented with commercial operations expected to begin in March 2022. The project, once operational, is anticipated to provide local network stability either through direct balancing services to the National Grid or through wholesale trading in the power markets or the National Grid’s Balancing Mechanism.
The Burges Salmon team advising on the transaction was led by partner Camilla Usher-Clark (Picture) and associate Danny Perera, with support from solicitor Elena Kaltsas.
Law Firms: Burges Salmon;
Clients: JLEN Environmental Assets Group Ltd;