The corporate group at Bristol-headquartered national law firm Burges Salmon has advised energy transition company Pulse Clean Energy on its acquisition of a battery energy storage system.
The acquisition of the 99MW system in Hampshire will help advance London-based Pulse Clean Energy’s pipeline of battery energy storage system projects in the UK market.
It also supports the utility-scale storage and stability platform as it aims to build a portfolio of over 1GW of energy storage assets to support the UK’s net zero ambition.
Earlier this year Pulse Clean Energy secured a three-year £175m credit facility with a number of banks to go towards its pipeline of battery storage projects in the UK.
The firm, formerly called Green Frog Power, secured the facility from a syndicate of banks including Santander, UK Infrastructure Bank, CIBC and Investec.
The Burges Salmon team advising Pulse Clean Energy on the latest deal with Harmony Energy Income Trust included partner Jonathan Eves, senior associate Bethan Penrhyn-Jones, associate Elena Visser-Adams and senior apprentice Charlie Morgan, with support from specialists across the firm, including Alec Whiter, a partner in the firm’s energy projects team.
Jonathan Eves, pictured, said: “We’re pleased to have advised Pulse Clean Energy on this important acquisition which complements its ongoing work to build a market leading portfolio of battery storage and stability assets.”
Pulse investment and development director Pauline Barker added: “This acquisition is a continuation of Pulse’s success through recent BESS and Pathfinder acquisitions, debt-raise activity and the transformation of the diesel generation sites. We’re very appreciative to the team at Burges Salmon for their work on the project.”
Burges Salmon has a strong corporate practice in the UK, acting on high value and complex transactions, and supporting fast growing companies with their growth ambitions.
Over the past year, Burges Salmon’s corporate practice has advised on more than 110 transactions for domestic and international clients, particularly in the energy, healthcare, life sciences and financial services sectors.
Last month firm’s renewable energy team worked with longstanding client Atrato Onsite Energy, an investment company focused on onsite clean energy generation, on a £30m revolving credit facility that will fund its further growth.
