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Womble Bond Dickinson (WBD) has advised Storelectric Teesside Ltd, a wholly owned subsidiary of Storelectric Ltd, on the completion of its acquisition of approximately 550 acres of industrial land in Teesside, and approximately 60 acres on the Wilton International Site from SABIC UK Petrochemicals Ltd.
The completion follows the exchange of contracts announced in February 2026 and marks another significant step in Storelectric’s plans to develop long duration energy storage (LDES) projects at Tees Energy Park.
Tees Energy Park is situated adjacent to the Seal Sands bulk storage and petrochemicals cluster. The 550 acre site includes underground cavern assets and above-ground infrastructure, and is well suited to large-scale LDES. A defined portion has been earmarked for Storelectric’s TeesCAES project, which will use compressed air energy storage (CAES) technology to support renewable power systems and grid stability.
TeesCAES has been named in Ofgem’s minded-to decision list for support through Window One of the LDES Cap and Floor Scheme, with final contract awards anticipated later this year. The wider site also provides scope for further clean energy and energy infrastructure projects, subject to approvals and funding.
Tallat Azad, Managing Director of Storelectric, said:
“Completing this acquisition is another important milestone for Storelectric, securing a site with the scale, infrastructure and geology to support TeesCAES and future clean energy projects. We are grateful to the Womble Bond Dickinson team for their outstanding support throughout the process. Their collective expertise, commitment and ability to navigate complex challenges under pressure have been instrumental in helping us reach this point.”
WBD advised Storelectric on the transaction, drawing on its cross-practice expertise across real estate, energy and infrastructure, corporate, planning, construction, environmental, employment, tax and commercial matters. The team was led by real estate partner Jo Beattie-Edwards and Managing Associate Kate Easton.
Jo Beattie-Edwards, Partner at Womble Bond Dickinson, said:
“We are delighted to have supported Storelectric through to completion on this strategically important acquisition. Long duration energy storage has a vital role to play in the UK’s transition to a more flexible, resilient and secure energy system, and Tees Energy Park is a significant site with the scale and infrastructure to support clean energy projects over the long term.”
