Specialist vitality storage belief NextEnergy Photo voltaic Fund has introduced a £200m enterprise with sustainable electrical energy agency Eelpower to strengthen the UK’s battery storage capability.
The corporate’s first 50MW battery storage venture via the three way partnership is presently underneath development in Fife, Scotland, and is predicted to grid-connected within the first half of 2023.
“Battery storage is an important expertise in rising the penetration of renewables within the UK,” NextEnergy chairman Kevin Lyon stated in an announcement.
He added that the corporate has “created a singular alternative to turn into a key participant on this area, while enhancing the present portfolio of photo voltaic property.”
NextEnergy CEO, Michael Bonte-Friedheim, stated that the enterprise will “additional improve the UK’s vitality independence”, as the price of oil and gasoline within the nation and throughout Europe continues to spiral amid Russia’s invasion of Ukraine.
The pair introduced one other partnership in September final 12 months, price £100m, which additionally sought to extend the UK’s battery storage capability.
Each ventures, that are presently topic to shareholder and Monetary Conduct authority (FCA) approval, are actively pursuing a pipeline of over 500MW – or £300m – price of battery vitality storage alternatives.