Insights, perspectives and viewpoints from our lawyers on topical issues
We hosted the Riviera CO2 Shipping, Terminals & CCS Conference, Americas 2024 in Houston on September 16, bringing together industry leaders and subject matter experts to share ideas and discuss opportunities and challenges related to CO2 terminalling globally.
The Hydrogen Council''s 2024 Hydrogen Insights Report highlights significant advancements in the global hydrogen sector, but also underscores the need for more accelerated investment and clearer regulatory support to meet long-term climate goals.
Global law firm Norton Rose Fulbright has advised Quinbrook Infrastructure Partners (Quinbrook) on its partnership with E.ON to construct a consented 350MW Battery Energy Storage System (BESS) project, located in Uskmouth, South Wales.
Global law firm Norton Rose Fulbright advised mBank on financing construction of 98 MWp PV portfolio sponsored by Sunly.
The Warsaw office advised BNP Paribas Bank Polska S.A. on the financing construction of 32.7 MW photovoltaic projects portfolio sponsored by R.Power S.A.
Global law firm Norton Rose Fulbright advised Powen Group, a portfolio company of Brookfield Asset Management, on a pioneering bank-funded securitization of Spanish solar assets, up to a value of EUR120m.
Global law firm Norton Rose Fulbright has advised TotalEnergies on its strategic minority investment in Xlinks First (Xlinks) in connection with the development of the Xlinks Morocco-UK Power Project, a first-of-its-kind long-distance renewable energy generation, battery storage and cross-border export project.
Carbon markets and emissions trading
Climate change and sustainability disputes
George Manahilov, Co-Head of Energy Storage
Many factors have contributed to making entering this sector particularly interesting. The increased growth of the electric vehicle sector led to a broader global manufacturing capacity, which resulted in decreasing batteries costs. This has made the use of energy storage cost-competitive for the first time.
Renewable energy and energy storage can work in synergy towards decarbonization. Energy storage has been classified as an activity contributing to climate mitigation in the EU Sustainable Finance Disclosure Regulation Taxonomy (SFDR), meaning there''s a strong ESG component laying at the basis of this sector.
But what makes energy storage a critical grid infrastructure?
The ability to control when batteries generate power helps to ensure the energy stored in them is used at the right times. For their fast-responding and bi-directional features, batteries are considered key grid firming (the ability to maintain the output from an intermittent power source for a required length of time) services, which helps to ensure the grid operates smoothly.
Energy storage is still at an early stage, but the sector is already showing high-growth potential for investors entering this market with a well-thought approach. Multiple variables need to be considered, such as finding the right storage locations and deploying effective revenue generation approaches, project implementation and execution, among others. Deep market, technical and operational expertise is a must, as well as market research and analysis.
The future looks bright, and we expect more efficient commercial structures, and increased acceptance by capital markets compressing capital costs. Energy storage is also attractive in an inflationary environment due to its higher return potential, as long as it retains upside exposure. As witnessed this year, the current inflationary environment is actually adding to the energy price volatility. As a result, there are peaks and troughs in power prices that are positive for energy storage, especially those more exposed to market prices.
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