The Green Investment Group has acquired its first grid-scale battery projects in the UK from the storage developer Capbal.
The transaction covers a portfolio of seven distribution-connected battery systems with combined storage capacity of 187MWh that will be strategically located in highly congested areas of the power grid, including Scotland and the South East.
As well as delivering the initial projects, which are in a late stage of development, GIG and Capbal will also work together to grow the portfolio further through the acquisition and development of additional sites. Construction on the first projects is expected to begin later this year.
The batteries will be used to provide a number of grid services, including frequency response, and help the National Grid Electricity System Operator to match supply and demand through participation in the balancing mechanism.
“Net zero demands an overhaul of our entire energy systems – for us to fundamentally rethink not just how we generate energy, but how we get it where we need it, when we need it.’ said Edward Northam, head of GIG in the UK and Europe.
“Our success in creating a flexible, low-carbon energy system is inextricably linked to our success in delivering energy storage at scale. GIG’s partnership with Capbal is an exciting first step for us in this market, and we look forward to creating even more opportunities to accelerate the deployment of this critical technology.”
David Fyffe, founder and managing director of Capbal, said: “Net zero by 2050 will require a massive clean energy expansion during the 2020s. Battery storage is key enabling technology, adding essential flexibility and intelligence to a grid under increasing stress due to the rapid growth in intermittent renewables.
“Although it has taken time for the battery storage sector to mature, scale and speed to market are now vital and GIG is the ideal partner to deliver our initial portfolio of attractive, grid scale projects and more.”
GIG was originally created by the UK government as the Green Investment Bank but was renamed after being acquired by Macquarie in 2017.