JLL advises on disposal of a consented 57MW energy storage project
JLL Energy & Infrastructure Advisory team has advised on the successful sale of a consented 57MW energy storage project to Gore Street Capital
JLL has acted as lead advisor on the sale of the Enderby Battery Energy Storage System (“BESS”) project following a competitive bidding process, the development was sold to leading energy storage fund manager Gore Street. The 57MW transmission connected site is ready-to-build and will be operational in September 2023. Once constructed the asset will be connected to the transmission network at Enderby substation, 7km Southwest of central Leicester. This sale is the latest in a series of successful energy storage processes run by JLL, with the team now transacting on over 500MW of storage in 2021.
Peter Sermon, Senior Director at JLL Energy & Infrastructure Advisory team said, “We are very pleased to have supported the sale of the Enderby BESS project. Enderby is a clearly differentiated project that will be able to access the benefits of being transmission connected and given its location will benefit from significant system imbalance revenue opportunities. This project will be a valuable addition to Gore Street’s growing operational fleet.
“This transaction continues JLL’s run of successful BESS disposals over the course of 2021. The JLL Energy & Infrastructure team has now advised on over 3GW of BESS projects, cementing their position as market leading financial advisors in the battery storage sector.”
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.