JLL advises Quinbrook on the 50% divestment of a BESS asset at NTP

LONDON, [02^nd April, 2024] – JLL’s Energy and Infrastructure Advisory team acted as exclusive sell-side M&A advisor to Quinbrook Infrastructure Partners, a leading energy transition investment manager, on the 50% sale of a notice-to-proceed (NtP) battery energy storage system (BESS) project located in Newport, South Wales, with a total capacity of 230MW. The project has commenced construction and expected to begin operations in the first quarter of 2025.

Following a competitive process, one of the two 115MW BESS projects was sold to the E.ON UK plc. Once operational, the asset will be operated independently by Quinbrook and E.ON.

The completion of this sale is a significant achievement that marks the third BESS close of 2024, and comes off the back of a successful 2023 where JLL closed 8 deals across 4 countries with a total capacity of over 1.7GW. JLL has now advised on over 6GW of BESS transactions across Europe, cementing our place as the market leading financial advisor in this sector.

Max Stirling, Director, Energy & Infrastructure Advisory, EMEA, JLL, said: “Despite falling revenues for Great Britain’s operational BESS fleet, it is great to see the interest and commitment to the sector is unwavering. BESS still remains a highly sought after asset class and one that is essential for us to reach Net Zero. It was a great pleasure to work with Quinbrook Infrastructure Partners team, who have delivered and contracted a high quality asset.”