Field, an energy storage project developer, announced the acquisition of the 200 MW/800 MWh Hartmoor battery storage project near Hartlepool, England, U.K., from independent project developer Clearstone Energy.
According to Field, the project is expected to be operational in 2026 and will store up to 800 MWh of clean electricity.
JLL’s Energy and Infrastructure Advisory team acted as exclusive sell-side M&A advisor to Clearstone Energy, while Mischon De Reya served as legal advisor to Clearstone Energy on the transaction.
Clearstone Energy secured the planning consent for Hartmoor in 2023. The financial details of the transaction remained undisclosed.
Field has three operational battery storage projects, with seven more in the construction or pre-construction stages totaling 450 MW/1 GWh.
Ben Pratt, Founder of Clearstone Energy, said, “Increasing U.K. electricity network flexibility through battery energy storage capacity is critical to delivering on the Government’s ambitious Clean Power 2030 goal. The Energy System Operator’s efforts to work with us to accelerate the project’s grid connection date is testament to its commitment to enabling the rapid build out of U.K. battery storage. Field has a compelling vision for the future of the U.K. energy system and we’re delighted that they will take the project through construction and into operations.”
According to Mercom’s 9M and Q3 2024 Funding and M&A Report for Energy Storage and Smart Grid, in 9M 2024, there were 22 energy storage project M&A transactions (one disclosed) compared to 22 transactions (four disclosed) in 9M 2023.
In November, SSE Renewables, a developer specializing in renewable energy projects, announced the acquisition of project development rights for a 120 MW/240 MWh grid-scale battery energy storage system (BESS) in Ireland. The acquisition was made from Low Carbon, a U.K.-based renewable energy firm.
