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Energy Team advises Statkraft on BESS optimisation agreement with Pulse Clean Energy
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Our Energy team has advised Statkraft on its first long-term agreement with Pulse Clean Energy to optimise Penn Battery Energy Storage System (BESS).
Penn BESS, which will be located near Wolverhampton, is a 128MW distribution-connected scheme. Under the agreement, Statkraft will provide trading and optimisation services for Penn BESS, in addition to an innovative long-term income guarantee to support the financing of this new project, which is expected to be operational in early 2028. Once operational, it will save 30,000 tonnes of carbon dioxide per year - the equivalent of taking roughly 6,500 petrol cars off the road.
This latest agreement adds to Statkraft’s expanding 4.3GW portfolio of flexible assets in Great Britain, where the company continues to partner with asset-owners to deliver reliable, high-performance route-to-market solutions.
Statkraft’s proprietary trading platforms enable asset optimisation tailored to each asset's characteristics and the owner's appetite for risk.
Gowling WLG has advised Statkraft on UK PPAs (and similar agreements) for more than a decade. The legal team advising Statkraft was led by Partner Gus Wood and supported by Senior Associate George Nixon and Associate Kate Huet.
Gowling WLG's Energy team has a market-leading reputation and operates seamlessly around the globe. Positioned at the forefront of the renewables and energy storage sectors, the team has recently advised clients on a number of significant battery storage related transactions.
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