BW Group to totally money Penso Power's 3GWh UK battery storage space pipeline
- Penso Power has actually signed a new arrangement with global maritime group BW Group that will see the build-out of the previous's UK battery storage pipeline totally funded.
The pipeline of over 3GWh of large-scale battery storage projects are to be built over the next 3-5 years, with this including projects up to 350MW in link ability. The arrangement will see Penso Power as well as BW Group end up being joint investors at the battery project level.
In Addition, BW Group is to spend directly right into Penso Power to become a substantial investor, with Erik Strømsø, managing director of BW Renewables and a participant of BW Group's executive committee signing up with Penso Power's board of directors.
"BW Group's dedication is a coming of age for the UK battery storage space market: an excellent global business releasing very considerable amounts of capital to develop a substantial profile of large battery storage projects in the UK," said Richard Thwaites, president of Penso Power.
"We watch the offer-- considerably larger than anything else seen in the UK to day - as transformational for ourselves and without a doubt the UK market," he claimed.
Solar Power Portal asked Penso Power for clearness on the precise amount being spent, and was told the contract is flexible and also as such, no specific number is currently being provided.
Penso Power currently has experience in creating UK battery storage, with its 100MW Minety battery energy storage space system (BESS) getting in full operation in July. The website contains two 50MW batteries, with strategies in position to broaden the site by a further 50MW. Sungrow supplied both NCM and LFP battery energy storage system options to the project, with these featuring high combination, therefore minimising the footprint, reducing the commissioning duration as well as decreasing system expense by 5%.
Minety was moneyed by China Huaneng Group as well as CNIC Corporation, with Shell Energy Europe authorizing a multiyear offtake contract in early 2020 for the website.
