PKF Francis Clark supports development of STOR Power’s 500MW+ reserve power platform

PKF Francis Clark has advised STOR Power on the first phase of development of a new 500MW+ reserve power platform that will aid the UK’s transition to sustainable sources of energy.

Based in Somerset, STOR Power was founded in 2015 by CEO Jon Antoniou to develop, construct and operate flexible reserve power facilities in the UK to support the transition to a low carbon future.

After successfully securing funding, the company is now pressing ahead with its plans to develop a 60MWh battery energy storage facility and four 15MW hydrogen-ready flexible generation plants, with the target of generating energy by next winter.

STOR Power was advised by a team of energy and infrastructure specialists at PKF Francis Clark, comprising Bob Meier and Andrew Killick.

Bob Meier, corporate finance director, said: “It’s a fantastic achievement for STOR Power to get the first five projects of its latest portfolio into the build stage. At a time when coal is being fired up as a winter contingency, additional battery energy storage and hydrogen ready plants cannot get connected quickly enough as we race to hit net zero.”

Legal advice to STOR Power was provided by Danny Perera and Jonathan Eves at Burges Salmon.

Find out more about PKF Francis Clark’s complete financial advisory service to the renewable energy and infrastructure sector.