JLL Energy & Infrastructure Advisory team has led the disposal of the co-located solar + storage portfolio to Vantage RE
News release
20 December 2022
JLL advises JBM Solar on sale of their 102MWp solar PV + 65MW BESS portfolio
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London, 21st December, 2022 – JLL acted as exclusive sell-side M&A advisor to JBM Solar, a leading UK solar PV developer, on its successful disposal of a 102MWp portfolio of ready to build solar PV assets co-located with 65MW of battery storage. Vantage RE owns, operates and manages a portfolio of renewable energy assets in the UK.
The transaction is comprised of two pre-construction solar PV projects – Bunkers Hill (67MWp solar PV + 40MW/80MWh BESS) and Eastfields (35MWp solar + 25MW/50MWh BESS). Both projects were awarded Contracts for Difference in the latest auction round and are due to become operational in early 2024.
This is a key transaction for the JLL team who are the leading solar & storage financial advisor in the UK1 having completed over 2.2GW of UK solar PV with c.475MW co-located storage since the beginning of 2021 in addition to 2.9GW of standalone storage.
Marcus Peech, Director of JLL’s Energy & Infrastructure Advisory team, said: “The JLL team is pleased to have worked on this milestone co-located transaction, at the forefront of solar project development and technical design.
Once operational, these projects will provide enough electricity to power over 37,000 homes annually.”
Brendan O’Brien, Founding Director of JBM Solar, said: “JBM is delighted to have made this contribution to Vantage’s targets for deployment of renewable capacity. The delivery of collocated solar PV and BESS projects can provide much needed resilience to the distribution network as we move towards a cleaner energy mix. In these uncertain times we are glad to have enabled the delivery of another 100MW of the cheapest form of onshore renewables. As solar PV can be deployed quicker than any other clean technology, these projects will not only contribute to alleviating the cost of energy crisis but will also bring the UK one step closer to energy security.
Thava Maniam, Head of Investments at Vantage RE, said: “This acquisition brings Vantage RE’s growing solar portfolio to 467MW. It also marks the broadening of our activities into project development and the continued greening of energy generation on behalf of our owner Tenaga Nasional Berhad (TNB).”
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 September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.