Burges Salmon’s Energy, Power and Utilities practice has advised energy efficiency market leader Anesco on the sale of an 81MW operating battery storage portfolio to Gore Street Energy Storage Fund.
The £28.2 million acquisition comprises 14 UK-based assets of varying sizes in locations such as Derbyshire, Cheshire and Greater Manchester. The transaction facilitates a wider partnership between Anesco and Gore Street whereby the former will continue its ongoing operations and maintenance and asset optimisation services for the batteries.
The proceeds of the sale will support Anesco’s growth as it continues its transition into service provision and focuses on expanding its offering. Anesco CEO Mark Futyan says: “We’re delighted to be working with Gore Street; this sale will allow us to focus fully on our services model and this ongoing partnership demonstrates how we can benefit investors.
“The Burges Salmon team did an excellent job and we appreciate the extra effort they put into closing out this transaction.”
Burges Salmon partner Will Woodall led the team advising on the transaction. Will comments: “Anesco is a long-standing client of the firm and it’s been a pleasure to work with them again to bring another significant transaction to a successful conclusion. We look forward to supporting Mark and the team in the future as the company continues its growth in the renewables sector and its commitment to helping the UK to achieve its net zero ambitions.”