JLL advises Eclipse Power on financing project with Octopus Investments
The multi-million-pound deal supports Eclipse Power’s goal to become a leading Independent Electricity Distribution Network Operator (IDNO) in the UK
JLL has advised Eclipse Power on its long-term funding deal with Octopus Investments. The transaction will enable Eclipse Power to make further investments into the UK's electricity grid infrastructure market to connect more than 25,000 customers over the coming years.
Octopus' multi-million-pound investment will support Eclipse Power's goal to become a leading IDNO in the UK. As the UK energy sector continues its transition towards the clean energy flexible system of the future, IDNOs are set to play a key role in enabling a competitive alternative to the operation and maintenance of the distribution network as compared to traditional Distribution Network Operators (DNOs).
This is JLL's first transaction in the IDNOs market.
Gary Gay, Managing Director and Founder of Eclipse Power, said: "We are very excited to be working with Octopus, a leading investor within the UK renewable energy and development capital sectors. Their financial backing and expertise provide us with the perfect partner to enable the business to develop and achieve our ambitions of becoming a leading independent Distribution Network Operator".
Dane Wilkins, Head of JLL's Energy & Infrastructure Advisory team, added: "We are excited to have been able to support our client in this complex deal – the first of its kind by our team in the IDNOs market. Eclipse Power's business growth and market expansion comes at a crucial time as the UK energy system becomes smarter and more flexible."