The Energy team has advised Pacific Green Energy Storage on its acquisition of Sheaf Energy Limited, a Kent, England-based 249 MW battery energy storage system development developed by UK-based energy originator, Tupa Energy.

Pacific Green Energy Storage has acquired 100 per cent of the shares in Sheaf Energy Limited for £7.5 million (US$9.1 million). This is the second transaction that Gowling WLG has closed for Pacific Green, having worked with the company on its financing of the 99.98MW battery energy storage system (BESS) development at Richborough Energy Park, Kent earlier this year.

Partner, Nath Curtis (head of project finance), led on the acquisition, supported by energy sector co-leader Gareth Baker and Emily Chittick (corporate), Dan O'Donnell (finance), Ben Stansfield (environmental), Ben Sasson (planning), James Stanier (grid and regulatory), Tom Rank (corporate tax), Susannah Fink and Eleanor Wright (W&I insurance).

Commenting on the acquisition, Nath Curtis said:

"This transaction marks the end of an incredibly busy year for Gowling WLG in the UK energy storage sector. In what has clearly been a break-through year for the sector, we have advised end-to-end on project development work, a range of significant joint ventures, M&A, construction contracts, optimisation arrangements and debt financings. We are honoured and delighted to have continued to support the Pacific Green team with its ambitions in the sector."

Gowling WLG's multi-disciplinary energy team has a market-leading reputation and operates seamlessly around the globe. Positioned at the forefront of the renewables sector, the team has completed a series of recent transactions, including advisory to HydrogenOne on its investments in green hydrogen developer HH2E, Bramble, Gen2, HiiRoc and NanoSun, Island Green Power and to Triple Point Energy Efficiency Infrastructure Company on investments into Harvest and Glasshouse. The team has also acted on largescale battery storage investments for Exagen, Eelpower, and Vanadium Redox.