Congratulations to Jonathan Cohen and the Energy team who advised Atlantic Green UK Ltd, a joint venture between Nofar Energy and the Interland Group, on the Cellarhead project. This will be the largest battery storage project in the UK, and one of the largest in the world.
Nofar Energy is a Tel Aviv stock exchange listed Israeli based renewable energy company and Interland is a private real estate and energy investment company. The Cellarhead project is Nofar's first entry into the UK renewable energy market. The project, located near Stoke, will provide a storage capacity of c.700 MWh which will be used to store power from the grid. The construction cost will be c. £214 m, and construction is expected to commence on site this year with connection to the electricity grid in the second quarter of 2024. Energy storage is one of the key technologies required to achieve the UK's net zero targets.
Howard Kennedy advised on the acquisition of the special purpose vehicle that holds the project development rights including negotiation of an SPA, the real estate due diligence, lease negotiations, grid connection documentation and the planning requirements.
The multi-disciplinary Howard Kennedy team included Jane Brassington, Chirag Rao, Jade Chalmers, Christopher Duffy, Anthony Hunt, James Tong and Emily Malster, led by Head of Energy Jonathan Cohen.