Eelpower JV to increase UK battery storage space

• Contract with SUSI to construct as well as run a pipeline of possessions

Eelpower has signed a JV with SUSI Partners to accelerate the rollout of the UK power portfolio.

Under the agreement, Eelpower as well as SUSI will certainly construct and also operate a pipeline of brand-new develop battery storage possessions in the UK.

The scale of the JV and SUSI's financial investment will make a significant contribution to satisfying the UK's energy storage requires, the firm stated.

SUSI additionally acquired 40MW of Eelpower's existing electricity storage assets, which together with the brand-new properties will certainly remain to be handled by Eelpower.

The first stage of the JV partnership will certainly see the start of building in February of a brand-new 50MW battery storage space project at Dunsinane, near Dundee, Scotland.

Eelpower has actually safeguarded secure returns, via effectively negotiating several long-term arrangements with route-to-market energy companies, according to the company.

Eelpower chief executive Mark Simon said: "We are delighted to be collaborating with SUSI Partners in what is their first financial investment in the UK's energy storage space market.

" The establishment of this joint endeavor comes with an important moment in the advancement of the UK electricity system.

" We eagerly anticipate collaborating with them and the most effective route-to-market counterparties as we build as well as operate a portfolio of high-performance grid-connected storage space assets on our means to developing a 1GW electrical energy storage energy.

" The UK is dedicated to set up a further 40GW offshore wind by 2030, up from a total 10GW today, resulting in a five-fold boost on the existing installed ability of wind power.

" This will certainly tidy up the UK's power system, sustain up to 220,000 British jobs, provide reduced bills for consumers as well as develop the UK as a low-cost green electrical energy exporter, in the shift to Net Zero."

Eelpower was suggested on the purchase by Opus Corporate Finance and also Gowlings WLG.