Legal Services
Whitecase
Full Credential Description
UK-based renewable energy developer Elements Green faced significant challenges in financing its ambitious Staythorpe Battery Energy Storage System (BESS) and expanding its pipeline of solar and energy storage projects. To address these challenges, White Case LLP provided tailored legal advice on a series of financings that included a construction bridge facility from Goldman Sachs, which is crucial for the development of the Staythorpe BESS, projected to be the second-largest standalone battery project in the UK. Additionally, vendor financing was secured from Hithium, the battery system supplier, and a refinancing of an existing development expenditure facility was completed with Copenhagen Infrastructure Partners (CIP). The Staythorpe BESS, strategically located in Newark-on-Trent, Nottinghamshire, is designed to deliver 360 MW of power capacity and 720 MWh of energy storage, enough to power over 95,000 s for a full day. This project is expected to have a 40-year operational life and represents one of Europes largest investments in energy storage to date. The successful completion of these financings is seen as a transformational milestone for Elements Green, highlighting the critical role of private capital in bridging the funding gap for renewable energy projects and supporting the UKs net-zero ambitions. The project not only strengthens the UKs energy resilience but also contributes significantly to the clean power infrastructure necessary for the countrys energy transition goals.