LONDON – Bracewell (UK) LLP represented Harmony HB Limited in the limited recourse financing for the Dorset-based Holes Bay battery energy storage project. The financing is one of the first of its kind in the UK market and worldwide.
Harmony HB Limited is a joint venture between Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy and a global leader in the renewable energy sector, and Harmony Energy, one of the UK’s leading independent developers of utility-scale battery energy storage projects.
The Holes Bay project has a capacity of 7.5 MW/15 MWh and can store energy from the UK National Grid to provide flexibility services during the system peak hours, contributing to the network stability and supporting Britain’s decarbonization plan.
Bracewell lawyers involved in the transaction included:
Partners: Oliver Irwin, Clint Steyn and Tom Swarbrick
Associates: Onis Chukwueke-Uba