Watson Farley & Williams (“WFW”) advised longstanding client Varco Energy Limited (“Varco Energy”) on its acquisition of the 100 MW Old Allen Road BESS project from Q4 Holdings Ltd (“Q4 Holdings”) and 23 Energy Ltd (“23 Energy”). The project joins Varco Energy’s wider battery storage portfolio that includes sites in Cornwall and Merseyside.
Located in Bradford, West Yorkshire, UK, the Old Allen Road project is expected to be operational by May 2027.
Varco Energy is a UK-based battery storage asset owner-operator that aims to drive the energy transition by building flexible energy storage.
Q4 Holdings is a renewable energy investment firm located in Yorkshire. 23 Energy is a UK-based utility battery storage developer that promotes a carbon-neutral environment through impactful investment.
The WFW London Energy team that advised Varco was led by Corporate Partner Christina Howard, supported by Senior Associate Florence Childs and Associate Alice Halpin. Global Energy Sector Head Henry Stewart and Projects Partner Emmanuel Ninos advised on project development and finance matters, supported by Senior Associates Rhiannon Elias and George Garthwaite. Tax advice was provided by Partner Richard Stephens and Associate Pip Moss. Partner Nick Walker and Associate Hamish Ungless supported on planning and environmental law matters. Real estate expertise was provided by Partner John Rosmini and Senior Associate Cole Tennant-Fry.
Christina commented: “We are pleased to have supported Varco Energy on another acquisition as it continues to develop its UK BESS portfolio. With a full-service team of energy experts and cross-practice collaboration, WFW is able to advise on all aspects of such transactions, moving forward the
WFW recently advised lenders on the financing of another Yorkshire BESS project in Thorpe Marsh.
