Matheson recently acted as Irish legal counsel to project sponsors Hanwha Energy Corporation and Lumcloon Energy on their design, permitting, development and financing of two 100MW Battery Energy Storage Systems ("BESS") in Lumcloon and Shannonbridge in County Offaly. These BESS projects (at 200MW in total) are the largest of their kind in Ireland and one of the largest in Europe.
The BESS projects provide essential support for Ireland's transition to renewable electricity by using cutting-edge energy storage technology to mitigate the intermittency of electricity generated from renewable sources such as wind farms (for example, by storing excess energy at times of low demand and releasing such energy when demand increases). Matheson collaborated with leading international Korean law firm Kim & Chang to deliver a tailored Irish legal solution to Hanwha Energy Corporation and Lumcloon Energy on critical matters such as the Irish DS3 grid system services regime and the delivery of an international multi-party EPC development model in an Irish context.
Mr. James Jonghyuk Lee, Hanwha Energy Business Development Senior Vice President at Hanwha Energy Corporation commented: "Hanwha Energy Corporation is very pleased to have achieved this major milestone for its significant investment in Ireland. Matheson, working together with our Korean legal adviser Kim & Chang, provided valuable support to enable our entry into this new market and our delivery of this cutting-edge project, which is essential for the achievement of Ireland's sustainability objectives."
Garret Farrelly, head of Matheson's Energy and Infrastructure team and Projects group, commented: "A project of this scale and type is unprecedented in the Irish market and we at Matheson are delighted to have played our part in delivering this major milestone in Ireland's sustainability journey. Working with Kim & Chang, we supported Hanwha Energy Corporation and Lumcloon Energy across two time zones to ensure that Hanwha Energy Corporation's first investment in Ireland proceeded successfully. We look forward to working with the team on the operational ramp-up of this critical piece of Irish energy infrastructure."
Originally published 19/11/2020 .
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
