Cambridge Power acquires Glasgow battery site

• Project rights consist of a 40-year lease as well as a grid connection for a 29MW energy storage space facility

Energy storage space developer Cambridge Power has actually acquired a site in Glasgow, Scotland, with project rights for a 29MW battery from Savills.

The offer offers a 40-year lease with a current annual rental of ₤ 50,000 examined biannually.

Savills secured a grid connection for the battery, which was then supplied to a handpicked checklist of 55 parties.

Initial round bids were obtained from 11 of them.

Oli King, from Savills' energy group, claimed: "There is an immediate requirement to be able to store electricity as well as the degree of passion in the opportunity this site offered proves the point.

" We have a data source of parties who are aiming to acquire such sites and it is clear the transactional side of this market is growing rapidly, although the supply of brand-new sites is short."