Global law firm Ashurst has advised lenders to Atlantic Green on the successful development and £152 million financing of the Cellarhead Battery Energy Storage System (BESS) project, further advancing the reliability of the UK's electricity grid.
With a capacity of 300 MW / 624 MWh, the Cellarhead BESS project is located approximately five miles northeast of Stoke-on-Trent and will be strategically connected to National Grid's 400kV Cellarhead substation.
Ashurst advised a lender consortium including Goldman Sachs, Santander, Bank Hapoalim, and Bank Leumi, and was arranged by Goldman Sachs acting as sole structuring bank, mandated lead arranger and lender on the financing.
The Ashurst team was led by partner Antony Skinner, supported by senior associate Melany Wilson and associates Ciaran Rutherfurd and Divya Deivanayagam.
Lead partner, Antony Skinner, commented: "We're delighted to have advised lenders to Atlantic Green on the Cellarhead BESS project, which underscores its commitment to advancing the UK's clean energy transition. This project will go some way towards accommodating the growing demand for renewable energy across the UK and shows there is lender appetite for financing BESS projects."
