Canadian Solar markets UK PV and battery storage projects

Jul 25, 2022 03:30 PM ET
  • Gresham House will certainly acquire a 50MWp scheme in Durham and a 28MWp advancement in Warwickshire
Canadian Solar markets UK PV and battery storage projects
Image: Gresham House

Canadian Solar has finished the sale of 2 fully-permitted solar and battery energy storage space projects in the UK to specialist alternative asset supervisor, Gresham House.

The two projects make up a collocated solar and battery energy storage project in Durham, with 50MWp solar capacity and 38MW (or 76 MWh) of battery energy storage space, and a standalone solar project in Warwickshire of 28MWp.

Both celebrations aim to continue to prioritise collocated renewable projects, where the solar PV and battery energy storage plants are built with each other and share the same grid connection infrastructure.

These projects supply both economic benefits, especially in the form of shared capital and operating costs, in addition to significant benefits to the UK grid by improving system dependability, making it possible for better assimilation of renewables and therefore aiding the UK economy satisfy its net-zero carbon targets.

The project in Durham is Canadian Solar's first collocated solar PV and battery energy storage project in the UK and it represents the second collocated solar and battery energy storage space project acquired by Gresham House.

The projects are entirely subsidy-free, consistent with Canadian Solar's lengthy pipeline of UK opportunities under advancement, the firm claimed.

Both projects are totally permitted and construction-ready.

Canadian Solar will remain to be involved in the projects, being responsible for the lasting procedures and upkeep activities.

Gresham House New Energy purchases clean energy projects using battery energy storage space, solar and wind technologies.

The team has a tried and tested track record in acquiring and handling projects throughout their advancement, construction and operational phases, with a complete capacity of 0.7 GW presently operating in the UK.

Canadian Solar is active in the UK renewables market with a 1.8 GWp PV solar and 4.3 GWh battery energy storage space pipeline under advancement.

Canadian Solar also has considerable track record in this market, having actually developed and adjoined to the grid an overall capacity of 200MWp.

This purchase is consistent with Canadian Solar's development method in the UK and more comprehensive Europe, Middle East and Africa (EMEA) area which combines an increasing retention of calculated lasting possession with the execution of critical sales of chosen portfolios in partnership with leading tier capitalists.

Canadian Solar's chairman and president Dr Shawn Qu said: "The execution of this purchase demonstrates again our competence in battery energy storage space advancement and confirms the recognised value of our fast-growing pipeline in the UK, among Canadian Solar's core markets in EMEA.

" This sale represents our extremely initial collocated solar and battery energy storage space project effectively delivered in the UK.

" Our choice to sell both projects prior to construction is largely aimed at getting prompt market acknowledgment and it does not preclude Canadian Solar from building, alone or in partnerships, the following projects developed in the UK or in EMEA.

" We delight in to partner with Gresham House, whose indisputable position as the UK's top capitalist in battery energy storage certifies the strong admiration of our project advancement and O&M capacities, enhancing our setting and strategy in the UK."

Gresham House investment supervisor for renewable resource Peter Bolton included: "We are delighted by the opportunity to broaden our profile of subsidy-free renewables and to protect more collocated solar and battery energy storage assets.

" Gresham House is a long-established financier in both renewables and battery energy storage, and our company believe in the solid financial instance for collocating the modern technologies on the same site.

" This shows a UK-wide requirement for even more renewables capacity and for battery energy storage space to support the grid system as more intermittent renewable generation is included.

" It is fantastic to formalise our relationship with Canadian Solar.

" Their strong online reputation throughout the solar and battery energy storage space supply chain, incorporated with development-stage track record, means we want to finish more deals with each other in the future."

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