The London office of international law firm Haynes Boone has advised KX Power Limited on its joint venture with BlackRock Real Assets to develop a pipeline of UK grid-connected battery storage projects. The joint venture includes an initial commitment to support the build out of up to 2GWh (Gigawatt hours) of battery storage assets across the UK enabling enough renewables generation buildout to power over 2 million homes annually, and to remove 16 million tonnes of CO2 over the lifetime of the projects.
Haynes Boone advised KX Power in connection with all aspects of the joint venture. The Haynes Boone team was led by Conrad Purcell, whose practice focuses on energy and infrastructure projects, assisted by Haynes Boone London Associate Shu Shu Wong.
Purcell, partner in the Energy Practice Group in Haynes Boone’s London office, comments:
“We have worked with the KXP team for a number of years and are delighted to have assisted them in connection with this important transaction. Battery electricity storage is a vital part of the transition to renewable electricity generation in the UK and this transaction demonstrates that the combination of experienced developers and far-sighted funders can help the UK to achieve its climate goals.”
Dr. Zhe Zhang, CEO of KXP, commented:
“We have worked very closely with Conrad for a number of large transactions over the past years, who has always been highly resourceful, sharp and knowledgeable. He is also one of the closest witnesses who has seen the robust expansion of our business. We are very pleased and impressed by the high standard of his advice, professionalism, and broader insights in the renewable infrastructure industry.”
Haynes Boone is an international corporate law firm with offices in Texas, New York, California, Colorado, Illinois, Washington D.C., Shanghai, London and Mexico City, providing a full spectrum of legal services in energy, technology, financial services and private equity.
