Fund supervisor purchases 100MW UK battery site

• Catalyst Capital anticipates the Skelton project to be operational in the 4th quarter of 2022

Asset and fund supervisor Catalyst Capital has actually obtained a site for a 100MW battery storage facility in Yorkshire, England, from Referent for a concealed rate.

Catalyst Energy Storage Platform (CESP), which is headed by John Parsons, now has the leasehold interest in the brownfield site at the previous Skelton Grange power plant, south east of Leeds alongside the M1 freeway.

The site belongs to a local hub for renewable resource as well as is adjacent to a waste-to-energy facility, which is currently under construction.

Planning permission was approved last year for the 100MW battery storage facility.

The building tendering procedure is being handled by CESP's design consultant, Fitchner, with the objective that the site will certainly be operational in the fourth quarter of 2022.

The site is among a collection that will be gotten by Catalyst as part of a ₤ 300m, varied UK battery storage center technique.

Skelton adheres to a joint venture purchase last year with Dowling in Nursling, Southampton.

The 50MW facility is anticipated to be fully operational in February 2022.

Catalyst is now in talks with capitalists to jointly fund the growth of the battery storage platform.

Catalyst was suggested by Freeths as well as Fitchner on the Yorkshire deal.

Catalyst Capital companion Kean Hird said: "John and also his group have actually been researching this market for time and our team believe there is a compelling chance to provide a portfolio of UK battery storage facilities.

" This portfolio will certainly provide our investors the opportunity to spend right into a scalable market with high ESG qualifications in the renewables industry.

" Although the field is still in evolution, it is swiftly getting institutional standing, while delivering really healthy and balanced cash-on-cash returns in the interim."