TLT advises Intelligent Land Investments Group P.L.C (ILI) on sale of landmark pumped storage hydro scheme and separate battery storage scheme

15/12/2023
Damien Bechelli (corporate partner at TLT)

UK LAW firm TLT has advised Scottish-based future energy development company, Intelligent Land Investments Group P.L.C (ILI), on the completion of the sale of two landmark future energy projects, which will support the development of renewable energy in the UK.  

These included the sale of the Red John Pumped Storage Hydro scheme located on the banks of Loch Ness to Statkraft – Europe’s largest producer of renewable power, founded in Norway – and the sale of its 50MW battery storage project Balnacraig, Alness, Highlands to EDP Renewables (part of Euronext-listed multinational, EDP Group).  

Intelligent Land Investments Group (ILI) – a leading future energy development company based in Hamilton, Scotland – is developing over 4.7 GW of energy storage projects in the UK, with a project pipeline comprising 2.5GW of pumped storage hydro and over 2.2GW of battery storage.  

The Red John Pumped Storage Hydro Project will be one of the first new PSH schemes to be built in the UK in over 40 years and is expected to save over 45 million tonnes of C02 in its lifetime. The significant renewable energy infrastructure project, located outside Inverness, will support the creation of hundreds of jobs whilst also helping to accelerate the UK’s journey to net-zero.  

The Balnacraig project, located near Alness, Highlands, will provide essential storage capacity and will hold enough energy to power every home in the Highlands for two hours.   

TLT’s corporate and real estate teams advised on all aspects of the sales. The transactions were led by corporate partner, Damien Bechelli, with support from Amy Tough and Faye Saunders (corporate), Mark Braude and Andree Parker (tax) and Mark McCall and Joanna Hamilton (real estate).  

Mark Wilson, CEO of ILI Group, said: “The Balnacraig project is the 8th sale of a battery storage company that Damien and the team at TLT have supported us on and we continue to be grateful for TLT’s support, especially with a complex project such as the Red John Pumped Storage Hydro Project which will make a huge economic contribution to the area. TLT’s market-leading understanding of the renewable energy sector was instrumental in getting this transaction over the line.  

“These projects are hugely significant and will play a critical role in the future of our energy system and the race to net-zero.”  

Damien Bechelli, corporate partner at TLT, said: “These transactions reflect the steady appetite for investment into UK-based future energy projects, which will support our transition to a home-grown, renewable energy source and enhance the UK’s position as a leader in future energy.  

“Scotland’s potential for developing renewable energy is huge. Supporting the development of these types of projects is a big step to unlocking that potential. It’s been a pleasure to support Mark and the ILI team yet again on another transaction to grow the battery storage and, significantly, the pumped storage hydro markets in Scotland.  We look forward to supporting ILI on similar exciting, upcoming projects”  

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