JLL Energy and Infrastructure Advisory team has advised Aura Power in the sale of their 255MW / 510MWh BESS development portfolio to TRIG
News release
07 September 2022
JLL Advises Aura Power in sale of their 255MW / 510MWh BESS development portfolio
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JLL acted as exclusive sell-side M&A advisor to Aura Power Developments Limited (Aura Power) for their 255MW / 510MWh Battery Energy Storage System (BESS) portfolio. Following an M&A process, the opportunity was awarded to a leading UK publicly listed infrastructure fund, Renewables Infrastructure Group Ltd (TRIG). This transaction bolsters the successful relationship between JLL and Aura Power covering multiple European jurisdictions and renewable technologies.
The portfolio consists of three ready-to-build BESS projects located across England, including the 75MW Newcastle, 90MW Drakelow and 90MW Drax projects, which will become operational from 2024 onwards. Once energised, the projects will help facilitate the build out of renewable energy by providing much needed frequency support and energy balancing to the electricity network and energy arbitrage.
This sale was the latest in a series of successful BESS processes run by JLL, consolidating their market leading position and bringing the volume of completed GB BESS transactions to more than 3GW with c.900MW transacted in 2022 to date.
Max Stirling, Manager, Energy and Infrastructure Advisory, EMEA, JLL, “This is a significant UK BESS transaction for the JLL Energy and Infrastructure team. In 2022, our team has already transacted on nearly 1GW of standalone BESS projects, both operational and pre-construction, in addition to advising buyside on several high-profile platform raises. We look forward to further collaboration with Aura Power and delivering on more pan-European mandates.”
Simon Coulson, Director at Aura Power, "We are delighted to have reached another successful transaction close on our UK BESS pipeline. This sale builds on our success in the UK and Irish BESS markets with over 1GWhr of projects now commercialised, approximately 50% of which are already operational. We have a further global BESS pipeline of more than 10GW and look forward to developing more battery storage projects both in the UK and internationally."
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.