Womble Bond Dickinson has advised its longstanding client Windel Energy (Windel) on its partnership via a Project Development Agreement with Canadian Solar Inc. (Canadian Solar), to co-develop a 1.5 GW of battery energy storage system (BESS) projects in the UK.
Windel specialises in the origination, development and asset management of renewable energy projects and carbon disruptive technologies. Under the agreement, Windel will deliver 1.5 GW of early-stage BESS projects with Canadian Solar providing funding and support. The partnership will support both Windel's and Canadian Solar’s growth in the UK and contribute towards strengthening the market position of both parties.
The WBD team advising on the transaction was led by partners Matt Lewy and Vicky McCombe who provided key corporate and finance expertise. The firm has a longstanding relationship with Windel, having acted for the client on a range of renewable energy projects, including on a similar scheme with Canadian Solar last year to co-develop a 1.4 GW of solar projects in the UK.
Matt Lewy of WBD commented:
"It has been a pleasure working once again with both the Windel and Canadian Solar teams on this exciting battery energy storage project. With COP26 currently underway with at its core a focus on reducing emissions and tackling global warming, WBD is proud to play its part advising a wide range of clients on the delivery of clean and innovative energy projects in the UK and across the globe."
Gary Toomey, Windel Energy Managing Partner added:
“We are continuing to build on the established relationship between Windel and Canadian Solar following the agreement to co-develop 1.4 GW of solar PV projects in December 2020. Windel’s decision to partner with Canadian Solar was not solely down to the current great working relationship, but also to the fact that Canadian Solar have developed and supply their own BESS integrated solutions, which simply made them the perfect partner. The Windel and Canadian Solar relationship is a now a well proven fit and we are looking forward to a continued long term sustainable relationship with Canadian Solar to deliver critical infrastructure to the UK grid for clean, renewable energy in the UK.
"We're very grateful to the WBD team for their diligent advice and commitment to this project. Matt and Vicky have quickly become our trusted legal advisers and we value their expertise and understanding of the clean energy sector."
WBD's energy team has been immersed in the energy and natural resources sectors for decades, giving it great depth of experience across the various different forms of energy and power. This experience allows WBD's energy lawyers to identify the best routes through the complex issues that affect companies operating in the sectors.