Nov 2022

Opus advises Eelpower on its 1GW battery storage partnership with Renewable Power Capital

Category: Deal Announcement

Opus is pleased to have advised Eelpower in connection with its new partnership with Renewable Power Capital, a pan-European renewable energy investment platform backed by Canada Pension Plan Investment Board.

The partnership is structured as a joint venture (JV) focussed on acquiring, building, and operating utility-scale grid connected battery storage projects. The JV is targeting to build up to 1GW of storage, and already has a current pipeline of 240MW to be built in the short term.

This partnership is Eelpower’s third JV in two years. In January 2021, Eelpower entered a JV with SUSI Partners and in September 2021 it announced a JV with Next Energy Solar Fund which was expanded in September 2022 to £300m to build over 500MW of battery storage assets. Opus advised on all of these transactions.

This represents another market leading transaction and a further example of Opus’ expertise relating to the energy transition.

For further information please contact: John McElroy, Stuart Schofield, Michael Mizon and Dilesh Patel.