Independent UK law firm Burges Salmon has advised KIRKBI, the Danish-based holding and investment company of the Kirk Kristiansen family, on its investment into Highview Power’s multi-billion-pound clean energy storage programme to accelerate the UK’s transition to net zero.
KIRKBI was amongst a syndicate of investors supporting the project including Rio Tinto, Goldman Sachs Power Trading and Mosaic Capital, with backing also secured from the UK Infrastructure Bank and Centrica. The combined investment secured a £300 million funding round for Highview Power’s first commercial-scale liquid air energy storage (LAES) plant in the UK.
The investment will enable the construction of one of the world’s largest long duration energy storage facilities in Carrington, Manchester, using Highview Power’s proprietary LAES technology. Once complete, the project will have a storage capacity of 300MWh and an output power of 50MWs per hour for six hours. Construction will begin on the site immediately, with the facility expected to be operational in early 2026, supporting over 700 jobs in construction and the supply chain.
The Burges Salmon team advising KIRKBI was led by partner Camilla Usher-Clark and senior associate Briony Barber from the firm’s Corporate Energy team. Camilla comments: “We’ve thoroughly enjoyed working with KIRKBI on its investment into the UK’s first commercial-scale LAES plant. The calibre of funding received for this project highlights the investors’ confidence in Highview Power’s unique technology and its capabilities for boosting the UK’s energy security. Burges Salmon is at the forefront of energytech, and this is one of the many elements that we feel sets our Net Zero practice apart. Our experience of advising on new energy technologies enabled us to guide our client through the transaction with ease and clarity in what was a complex process involving many parties, based in multiple jurisdictions.”
Further comment by our client on the deal can be found here.
Burges Salmon’s leading Corporate and M&A practice advises domestic and international clients, particularly in the energy, technology, healthcare, transport and financial services sectors. The firm has over 20 years’ experience advising on renewable energy projects and is widely regarded as one of the sector’s leading law firms.