Bristol-based lawyers at international legal practice Osborne Clarke have advised Foresight Solar Fund (FSFL) and JLEN Environmental Assets Group (JLEN) on their acquisition of the 50MW Clayfords Energy Storage project in Scotland.
Clayfords holds the development rights to construct a 50MW lithium-ion battery storage plant based in Buchan, Aberdeenshire, which will be connected to the Scottish Hydro Electric Power Distribution network.
The project is fully consented, construction-ready and is expected to start commercial operations in Q4 2024.
Osborne Clarke partner Chris Yeo, who led the team advising the purchaser and is based in the firm's Bristol office, said: "We're delighted to support FSFL and JLEN in this transaction, which further highlights investor commitment to back projects supporting the energy transition."
The Osborne Clarke team also included associates Hannah Stevens and Jay Eng (corporate), associate Shraiya Thapa (projects) and associate Ben Doeh (tax). The team at Harper Macleod was led by Omar Ali and Peter Ferguson, who advised on the Scottish law aspects of the transaction.
The project was bought from Intelligent Land Investments (ILI).