Deal Description: On January 10, 2020, Gore Street Energy Storage Fund (ticker: GSF), London's first listed energy storage fund investing in income producing assets in the UK and internationally, awarded to NEC Energy Solutions fixed-price  Engineering, Procurement and Construction ("EPC") contracts and long-term Operations and Maintenance (O&M) contracts for 100MW of energy storage projects in Northern Ireland ("NI assets).
The 100MW of energy storage will comprise two 50MW projects located in Drumkee, County Tyrone and Mullavilly, County Armagh. The two projects, which are currently under construction, are the largest projects to date in Northern Ireland and are expected to derive revenue from the new Irish “Delivering a Secure Sustainable Electricity System” (DS3) program.
Under the EPC and O&M contracts, NEC Energy Solutions has committed to construct the projects at a fixed price  by a specified completion date, to provide for performance and availability warranties and to operate the projects for up to 15 years. The combination of fixed prices , warranties backed by liquidated damages and guaranteed completion dates further de-risk these projects.
Baker Botts L.L.P. represented Gore Street Energy Storage Fund.
For more information, please see GSF’s news release by clicking here.
 Subject to potential rights to price adjustment based on client variations
ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm of approximately 725 lawyers practicing throughout a network of 13 offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy and technology sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.