Acquisition of the Stonehill project asset development rights by Stonehill Energy Storage Ltd: notice of final order variation (HTML)
Updated 17 July 2026
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1. The Chancellor of the Duchy of Lancaster has varied a final order pursuant to section 27 of the National Security and Investment Act 2021 (“the Act”). The variation comes into force 16 July 2026.
2. The Party which is subject to the order is:
a. Stonehill Energy Storage Limited (‘the Acquirer’).
3. On 17 November 2020, the Acquirer acquired the entirety of development rights for the Stonehill project from Stonehill Battery Storage Ltd.
4. The Acquisition was a trigger event under section 9(1)(b) of the Act.
5. Following a detailed national security assessment, the Chancellor of the Duchy of Lancaster previously made a final order pursuant to section 26 of the National Security and Investment Act 2021 (“the Act”), which came into force on 14 September 2022. The order had the effect of allowing the acquisition to proceed subject to the following conditions:
a. A requirement on the Acquirer to obtain HMG approval before appointing a power offtake operator; and
b. A restriction on the sharing of information from the power offtake operator to the Acquirer;
6. The Chancellor of the Duchy of Lancaster considers that these measures are necessary and proportionate to mitigate the risk to national security relating to:
a. the security of an important UK electricity asset, and
b. services provided to the GB National Grid
7. The variation to the final order amends compliance reporting requirements.
8. The Chancellor of the Duchy of Lancaster considers that the Final Order (as varied) is necessary and proportionate to mitigate the risk to national security.