CMS has advised BW ESS on its sale of a 49% equity stake in a UK-based battery energy storage system (BESS) portfolio with a total capacity of 700 MW and 3.5-hour duration, to AIP Management.
BW ESS is a global developer, owner and operator of energy storage systems with 3.3GWh under construction, a development pipeline of approximately 9.5GWh, and more than 500MWh of operating BESS projects. AIP is a renewable energy and infrastructure investment manager focused on decarbonisation and energy infrastructure investments that facilitate the energy transition in Europe and North America, and has invested over €8bn in infrastructure assets, including renewable energy assets with a capacity of approximately 7 GW.
CMS Corporate Partner Brynn Horner comments: "We are delighted to have supported BW ESS on this strategically important portfolio partnership, enabling them to deliver assets at scale. The deal highlights the continued evolution of the market as investors and developers collaborate to build the infrastructure needed for a more flexible and resilient energy system. It has been a pleasure working with the BW ESS team, and we look forward to continuing to support their plans going forward.”
This transaction is the latest in a series of BESS projects that CMS has advised on. To date, CMS has advised on over 10GW of projects in the UK, cementing its market-leading expertise in the sector.
Brynn Horner led the CMS team, including James Day, Greg Moreton-Smith, Adam Fenby-Betts, Anna Ghataure, Poppy Davenport, Katherine Manderson and Liberty Brailey (Corporate); Jason Todd and Harry Penfold (Tax); Louise Dalton, Phil Duffield, Tom Ballard, Yasmin Kasri, Keren Jemima Austria and Joel Padi; Maja Kajdasz (EPC); Tim Williams and Michelle Hincks (Real Estate); Robert Garden and Kenna Gordon (Planning); and Katie Duffield, Huw Knott and Christopher Thorp (Finance).
