International law firm Womble Bond Dickinson has advised Storelectric on the exchange of contracts to acquire approximately 550 acres of industrial land in Teesside, supporting the development of long duration energy storage (LDES) projects.
The land is being acquired by Storelectric Teesside Ltd, a wholly owned subsidiary of Storelectric Ltd, from SABIC UK Petrochemicals Ltd. The transaction includes underground cavern assets alongside essential above‑ground infrastructure and benefits from geological characteristics well suited to large‑scale LDES deployment. Completion of the transaction is expected later this year, subject to the agreed conditions.
A defined portion of the site has been earmarked for Storelectric’s LDES project, TeesCAES, which will utilise compressed air energy storage (CAES). TeesCAES has already progressed through the initial phase of the UK’s LDES cap and floor regime, regulated by Ofgem, and is among a limited number of projects nationally selected to reach this stage. A decision on progression to the next phase of the scheme is expected in the coming months.
Beyond Storelectric’s initial LDES project, the scale, existing infrastructure and configuration of the wider site provide flexibility for the phased development of additional clean energy and energy infrastructure‑related projects over time, subject to regulatory approvals and funding.
The WBD multi-disciplinary team supporting Storelectric was led by real estate partner and energy specialist Jo Beattie-Edwards and managing associate Kate Easton, with real estate support from Kieran Short, Shannon Cross, Sanya Iqbal, regulatory advice provided by partner Francesca Hodgson, tax support from partner Jeremy Smith and associate Sophia Di Xiao, commercial support from partner Sarah Daun with further support from Sandy Duncanson and Charlotte Bloomfield.
Tallat Azad, Managing Director of Storelectric, said:
“This acquisition represents an important milestone for Storelectric and demonstrates its commitment to repurposing established industrial assets to support the energy transition, grid resilience, and LDES deployment.”
Jo Beattie-Edwards, partner at Womble Bond Dickinson, commented:
“We are delighted to have advised Storelectric throughout this pivotal transaction, drawing on our expertise in energy, infrastructure, and complex industrial land acquisitions. The successful exchange of contracts not only underscores Storelectric’s commitment to advancing long duration energy storage in the UK, but also highlights the strategic importance of the site for supporting the nation’s energy transition and enhancing future grid resilience.”
The Teesside site is expected to act as a reference platform capable of informing further similar large‑scale developments in the UK and other geographies where comparable industrial and geological characteristics exist.
