Harmony Energy announced a second battery project in collaboration with Fotowatio Renewable Ventures (FRV) on November 12 2020. FRV is a part of Abdul Latif Jameel Energy and a leading global developer of renewable energy projects.
Fasken advised Harmony on the debt and equity financing of the utility-scale 34.816 MWh capacity Contego battery electricity energy storage (BESS) project by Fotowatio Renewable Ventures, deploying the Tesla Megapack BESS.
Construction of the 34 MW / 68 MWh Contego project is set to start in November 2020 near Burgess Hill in West Sussex, United Kingdom. Once completed in 2021, it will be one of the largest battery energy storage plants in the UK, with a system of 28 Tesla Megapack lithium-ion batteries, using Tesla’s Autobidder AI software for real-time trading and control.
Contego will be connected to the UK Power Networks distribution network, providing the capability to store energy from renewable sources and afford peak-time flexibility to the UK National Grid as part of the country’s continuing shift away from fossil fuels.
Fasken advised Harmony in connection with this transaction with a team comprised of Guy Winter (Lead), Laura Bradley (Corporate Finance) and Maurice Wong (Corporate Finance).
Fasken advised Harmony on the debt and equity financing of the utility-scale 34.816 MWh capacity Contego battery electricity energy storage (BESS) project by Fotowatio Renewable Ventures, deploying the Tesla Megapack BESS.
Construction of the 34 MW / 68 MWh Contego project is set to start in November 2020 near Burgess Hill in West Sussex, United Kingdom. Once completed in 2021, it will be one of the largest battery energy storage plants in the UK, with a system of 28 Tesla Megapack lithium-ion batteries, using Tesla’s Autobidder AI software for real-time trading and control.
Contego will be connected to the UK Power Networks distribution network, providing the capability to store energy from renewable sources and afford peak-time flexibility to the UK National Grid as part of the country’s continuing shift away from fossil fuels.
Fasken advised Harmony in connection with this transaction with a team comprised of Guy Winter (Lead), Laura Bradley (Corporate Finance) and Maurice Wong (Corporate Finance).
Jurisdiction
- London
