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WFW advises Varco Energy on Sambar Power battery storage project acquisition14 May 2024

Watson Farley & Williams (“WFW”) has advised Varco Energy Limited (“Varco Energy”) on its acquisition of the 47.5 MW Sambar Power battery storage project from Carlton Power Limited.

Located in Cornwall, UK, the project will connect into the transmission network at the Indian Queens substation, with energisation expected in Q2 2025. The project joins Varco Energy’s wider battery storage portfolio which includes two sites under construction near Liverpool that are due to energise later this year.

The WFW London Energy team that advised Varco Energy was led by Corporate Partner Christina Howard working closely with Corporate Partner Sarah Williamson, Projects Partner Emmanuel Ninos, Real Estate Partner John Rosmini, Regulatory Partner Solange Leandro and Tax Partner Claire Miles. They were supported by Associate Alice Halpin (Corporate), Counsel Marianne Anton (Regulatory), Associate Lauren Buchan (Regulatory) and Associate Elizabeth Lee (Projects).

Christina commented: “It was a pleasure to advise Varco Energy on this important transaction, as part of our long-standing support of their portfolio development. Battery storage systems play a key role in supporting the UK’s energy transition and promote the growth of renewable power generation. This deal highlights WFW’s expertise in the energy space and our capabilities advising on projects that contribute to a net zero future”.

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