Jamieson is pleased to announce that it has advised the management team of Eelpower Limited on joining a new consortium, comprising Equitix, Aware Super (the Australian pension fund), and the UK’s National Wealth Fund (NWF) to invest £500 million into a new UK battery storage platform. The platform – to be known as Eelpower Energy – will build, own, and operate grid-scale battery storage assets and aims to deliver over 1GW of new battery storage capacity for the UK grid in the coming years.
Founded in 2017, Eelpower is a pioneer in the grid-scale battery market. Its platform of large-scale grid connected storage delivers grid stability and balance of supply and demand without which the energy transition cannot happen. Through partnerships with developers, landowners, manufacturers, contractors, market traders, and investors, Eelpower is building the battery infrastructure needed to make renewable energy viable and sustainable in the UK.
Mark Simon, CEO “Jamieson have provided superb advice and support to the Eelpower management team throughout this investment process, combining clarity and reassurance to the team with a detailed understanding of the market in which we operate. We would not hesitate to recommend Stephen Maxwell, Kenny Brodie and Helen Briscoe and their colleagues to another management team”.
Stephen Maxwell, Kenny Brodie and Helen Briscoe advised the management team on the transaction and the terms of the new management equity arrangements.
