JLL advises Gigabox Developments on the disposal of 100MW of pre-construction battery energy storage system (“BESS”) projects
JLL Energy & Infrastructure Advisory team has advised leading renewables developer, Gigabox Developments, on the successful sale of their first two BESS projects to Eel Power and Foresight Group
The two 50MW projects – Lyndhurst and West Gourdie are located in Dundee, Scotland and will benefit from the growing demand local constraint or by reducing volatility on the system via wholesale trading in the wholesale power markets and/or the Balancing Mechanism. It is expected both projects will be operational within the next 12-18 months.
Peter Sermon, Senior Director and head of BESS at JLL Energy & Infrastructure Advisory team said: “We are very pleased to have supported Gigabox Developments with the sale of their first two BESS projects. Lyndhurst and West Gourdie are high quality assets and their successful disposal is a reflection of the increasing liquidity in the sector which is underpinned by a growing awareness of the essential and profitable role that BESS have to play in transitioning the GB electricity network to net zero.”
James Perkins, Director at Gigabox Developments said “We were delighted with the end results! JLL’s experience and guidance helped us navigate the growing BESS market which undoubtedly will play a major role in the UK renewables sector. JLL conducted an efficient transaction process and we hope to work again with them soon.”