UB Renewable Energy Fund – Investment in electricity storage system (BESS)

We acted as the legal counsel to United Bankers’ UB Renewable Energy Fund on its investment in a battery electricity storage system (BESS).

We acted as the legal counsel to United Bankers’ UB Renewable Energy Fund on its acquisition of a significant majority stake in a project company from the Swiss-Finnish company AMP Tank Finland Oy. The project company will develop and operate a 30 MW battery electricity storage system at Fingrid’s Kellarijänkä substation in Kemijärvi, Finland. The system has a charge/discharge duration of two hours, equating to a total capacity of 60 MWh. The battery electricity storage system will primarily participate in the reserve market.

United Bankers’ UB Renewable Energy Fund offers the investors the opportunity to invest in the growing market created by the energy transition and shift towards green energy. The fund’s assets are mainly invested in renewable energy development projects and renewable energy power plants in Finland and Europe, including wind and solar energy. Additionally, the fund may invest in infrastructure supporting its target investments or the general production, transmission, and storage of energy, as well as in the hydrogen industry. The fund is managed by UB Rahastoyhtiö Oy.

Lieke’s core team comprised Partner Jussi Ekonen and Senior Associate Hanna Tolonen. The core team was assisted by Managing Associate, Energy & Real Estate, Alisa Montonen and Associate Maija Tevajärvi.

For more details on the transaction, refer to the United Banker’s press release available on the United Banker’s website.

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Team