News release

JLL advises Mersey Reactive Power Limited on the sale of their 200MVAr shunt reactor in UK

Leading grid services investor sells operational shunt reactor to Downing Renewables & Infrastructure Trust (DORE)

November 27, 2023

Alyssa Dwek

UK Communications Manager

JLL’s Energy and Infrastructure Advisory team acted as exclusive sell-side M&A advisor to Mersey Reactive Power Limited, a joint-partnership between PeakGen Net Zero Energy Development Limited and Eden Rock Group Limited on the sale of their 200MVAr shunt reactor. The asset benefits from a High Voltage pathfinder contract, a long-term index-linked contract with National Grid ESO, to stabilise regional voltage through the management of reactive power absorption.

Following a competitive process, the opportunity was awarded to the Downing Renewables & Infrastructure Trust (DORE). This represents one of the first shunt reactor transactions in Europe and is the only non-TSO operator to hold a transmission license and is the first time Ofgem has approved the transfer of this licence between two parties. The asset supports the UK’s energy transition towards net zero by providing essential grid services including voltage management and grid stability, which are critical to the future success of decarbonisation.

Ian Graves, Executive of Mersey Reactive Power Limited, said: “This transaction highlights the relevance of stability services as a tangible investment case in and of itself within the UK market. As well as paving the way for a more liquid sector going forward as the CATO model of private transmission network operators grows in GB.” 

Max Stirling, Director, Energy & Infrastructure Advisory, EMEA, JLL, added: “We are thrilled to have closed this first-of-kind transaction on behalf of Mersey Reactive Power Limited. This deal highlights the opportunity within the UK market for private sector participants to support a critical function of National Grid ESO’s stability services, and contribute to accelerating the UK’s energy transition, through the high voltage pathfinder auction.”

About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit