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Bracewell Represents FRV on Establishment of Platform to Develop up to 1 GW of Battery Energy Storage Systems

LONDON Bracewell (UK) LLP represented Fotowatio Renewable Ventures (FRV) on the establishment of a platform to develop up to 1 GW of battery storage systems. FRV, a leader in the development of sustainable energy solutions, has partnered with Tyler Hill Partners to establish FRV TH Powertek Limited, a platform that will develop, construct and operate a portfolio of battery energy storage system projects across the United Kingdom. The portfolio is expected to reach up to 1 GW over the next five years, with an estimated aggregate investment of £1 billion.

Bracewell has represented FRV in relation to a number of first-of-its-kind battery storage investments in the UK, notably the largest battery energy storage plants in the UK, the Contego and Clay Tye projects, each of which are being developed in collaboration with a UK developer utilizing Tesla batteries and software.

"Bracewell is thrilled to share in this exciting journey with FRV," said Jo En Low, a partner in Bracewell London office. "Battery energy storage system projects are playing a critical role in the energy transition. Significant growth in the installed capacity of battery storage projects is expected to contribute towards the UK's net zero targets."

Bracewell lawyers involved in the transaction include:

Partners: Oliver Irwin and Jo En Low

Senior Associate: Danielle Altink