Eelpower Ltd.

Completed Date

2021-01-29

Sector

Energy & Sustainability

Deal Type

Company sales

Value

Not disclosed

Company bio

Eelpower addresses the challenges of the existing power infrastructure to deliver:
- a more stable, less volatile supply by the grid
- a better balance of supply and demand
- reduced cost to consumers while allowing the nation to reduce its consumption of fossil fuels and increase security of power supply.

Deal Summary

Opus advised Eelpower in connection with establishing a new partnership with Switzerland-based infrastructure investment firm SUSI Partners to build a significant position in the UK grid-connected, battery storage market. The transaction involved the sale to SUSI of 40MW of Eelpower’s existing electricity storage assets, and the establishment of a partnership to construct and operate a pipeline of new build assets. The transaction also included the acquisition of the first pipeline asset, a 50MW battery project located in Scotland. Eelpower will manage all the assets in the venture and act as the focal point for new investment. Each of the assets will benefit from innovative off-take contracts with major UK utilities, including Centrica.