Legal Guidance and Research / Experts / Kathryn Emmett
Kathryn Emmett#1408
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Kathryn Emmett

Slaughter and May
Kathryn is a senior knowledge lawyer in Slaughter and May’s London energy, infrastructure and natural resources team. She advises on both financing, commercial contracts and regulatory aspects of projects, with particular experience in power and renewables, as well as emerging technologies such as low carbon hydrogen, and carbon capture and storage.

Kathryn's experience includes advising lenders, sponsors and governments on domestic and international project financings, as well as leading due diligence in relation to project acquisitions and investment company listings. Kathryn also advises in relation to both the support schemes for, and regulation applicable to, the British energy market, as well as reforms affecting it.

Kathryn has an MSC in Energy policy and worked in-house at a United Kingdom renewable energy generation company in a dual role as part of the legal and wind energy development teams.

Practice Areas

Panel

  • Contributing Author

Qualified Year

  • 2006

Membership

  • Solicitors Regulation Authority
  • RenewableUK (a leading UK renewable energy industry body) Markets and Regulation Working group.
  • WindEurope Offshore wind working group

Education

  • MSc in Environmental Technology and Energy Policy at Imperial College London (2009)
  • LLB in Law at Sheffield University (2003)

2 Contributions by Kathryn Emmett

Great Britain energy storage: revenues, balancing services, arbitrage, Capacity Market de-rating, revenue stacking, co-located renewables and PPAs, and funding/regulatory updates (Energy Act 2023, LDES)
PRACTICE NOTES
Great Britain energy storage: revenues, balancing services, arbitrage, Capacity Market de-rating, revenue stacking, co-located renewables and PPAs, and funding/regulatory updates (Energy Act 2023, LDES)
Income sources for a storage scheme hinge on the relevant electricity market, the technology deployed, the size of the project and whether it runs behind the meter to meet a specific site’s needs or is connected to the grid. Storage can generally extract value through some or all of the following: supplying grid services (frequency response, Capacity Market income, demand-side response) market price arbitrage smoothing generation output and avoiding imbalance charges in a hybrid model where an underlying (typically intermittent) electricity generation plant is co-located with a storage unit These income streams are explained in more detail below. All such revenue forms are described in further detail below. More detail is provided below. Investors usually want the flexibility to stack (i.e. combine) revenues, perhaps relying on different sources at different times of day or year, whilst debt financiers will look for a longer-term contracted base revenue stream to underpin repayment of debt and/or assess the management experience and creditworthiness of the corporate entity. In Great Britain (GB), despite support for greater flexibility in power networks, historic regulatory uncertainty had weighed on the business case for new storage assets. However, following enactment of the Energy Act 2023, which expressly provides for...
Energy
Green Loan Principles: Eligibility, Structuring and Drafting with LMA Green Loan Provisions (2024) and 2025 Updates; Reporting, Reviews and Greenwashing Risk, including RCFs and Refinancing
PRACTICE NOTES
Green Loan Principles: Eligibility, Structuring and Drafting with LMA Green Loan Provisions (2024) and 2025 Updates; Reporting, Reviews and Greenwashing Risk, including RCFs and Refinancing
This Practice Note outlines green loans and the principal considerations when preparing a green loan agreement. It centres on the Green Loan Principles (GLP) issued by the Loan Market Association (LMA), the Asia Pacific Loan Market Association (APLMA) and the Loan Syndications and Trading Association (LSTA)... Clarifies the meaning of a green loan Introduces the GLP and the accompanying GLP guidance Sets out the four core components of a green loan under the GLP and summarises the related guidance Condenses GLP and GLP guidance on what qualifies as a green loan, on reviews, and on greenwashing risks Provides sources for precedent wording, including the Loan Market Association draft provisions, plus drafting pointers What is meant by a green loan? Under the GLP, green loans encompass any form of loan instrument and/or contingent facility (for example, bonding lines, guarantee lines or letters of credit) where the proceeds, or an equivalent amount, are applied solely to fund, re-finance or guarantee, in whole or in part, new and/or existing eligible Green Projects...
Banking & Finance
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