Brookfield strikes 985MW UK storage space offer

Feb 9, 2022 01:51 PM ET
  • Agreement with Cambridge Power to establish battery sites across the nation
Brookfield strikes 985MW UK storage space offer
Image: reNEWS

Cambridge Power has actually entered into a framework agreement with Brookfield Renewable to develop a portfolio of battery power storage space system (BESS) sites throughout the UK amounting to 985MW.

The agreement covers more than 800MW of fully consented BESS possessions and 185MW of co-located solar for investment over the next 5 years.

Brookfield said it will provide substantial capital to build the portfolio of assets.

Cambridge Power will certainly take care of the construction and operation of the properties with projects starting building and construction this year, with energisation in 2023.

Cambridge Power was founded by Pigeon Investment Management in 2018 and has established grid-scale energy storage possessions throughout the UK.

Brookfield's renewables portfolio contains hydro, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals over 21GW of mounted capacity and approximately 62GW growth pipeline.

Cambridge Power chairman Richard Stanton said: "This collaboration stands for a terrific opportunity for Cambridge Power to create and run one of the UK's leading BESS and solar PV portfolios.

Brookfield Renewable vice head of state Ignacio Gómez- Acebo López included: "As proprietors and operators of one of the largest clean energy services worldwide we are delighted to work together with Cambridge Power and contribute to the UK's shift to Net Zero.

" Our Framework Agreement uses the opportunity to invest in a significant pipeline of BESS and co-located solar opportunities with a leading designer."

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