International legal practice Osborne Clarke has advised Bluefield Partners LLP ("Bluefield"), in regard to the acquisition by Bluefield Solar Income Fund (“Bluefield Solar”) of an 80MW portfolio of two DNO-connected development stage battery storage projects, Whitehouse Farm in Swadlincote and Breach Farm in Malvern.
Bluefield acts as investment adviser to Bluefield Solar, and has a leading track record of investing in renewable energy, particularly solar PV assets. The two battery storage projects were acquired from Green Hedge, a developer and operator of large-scale grid-connected energy storage projects across Britain. These acquisitions will strengthen Bluefield Solar's position in the storage space, which it considers to be the future for creating flexible energy generation solutions.
The Osborne Clarke team assisting Bluefield was led by head of decarbonisation James Watson, supported by associate director Amy Stray and associate Giles Herring. Other advisors included partner Chris Yeo and associate Hannah Stevens (advising on corporate aspects); partner Charlotte Walker (for real estate); senior associate Josh Taylor and associate Arthur Hopkinson (advising on planning); associate director Duncan Parker and senior associate Alistair Russell (advising on construction matters).
Bluefield has instructed Osborne Clarke on a number of acquisitions in the renewable energy space over the past 18 months, with the majority involving battery storage projects. With a multi-disciplinary approach and successful application of the team's broad, in-depth experience, the Osborne Clarke team ensured a timely completion for the client.
Marius Biedka, Investment Manager at Bluefield Partners, said:
Battery storage is an exciting growth area for Bluefield and we are pleased to have completed this important investment with Osborne Clarke’s support. The Osborne Clarke team played a key role in enabling us to achieve this by promptly working through the due diligence and advising us effectively on the transaction."
James Watson, Head of Decarbonisation at Osborne Clarke commented:
Battery storage constitutes an important element of the UK's renewable generation mix and will play a vital role in providing flexibility solutions and increasing efficiency as the sector seeks to deliver on Net Zero targets. The potential of storage solutions has been highlighted both in the Energy White Paper and the Energy Security Strategy. In the presently volatile market, battery storage offers great opportunities to investors seeking to capitalise on price fluctuations."
Osborne Clarke has an established and well-respected position as one of the leading law firms advising on renewable energy projects and transactions. As businesses strive to meet the challenges of decarbonisation, Osborne Clarke is supporting its clients on projects to procure, fund and develop the sustainable infrastructure, buildings and land use of the future. The team’s experience and understanding of the energy sector means they are well placed to advise on your decarbonisation journey.
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