GIG launches energy storage programmer

Nov 8, 2022 01:01 PM ET
  • Eku Energy will establish, build, as well as proactively handle a portfolio of battery assets diversified across markets
GIG launches energy storage programmer
Image: Eku Energy

Green Investment Group (GIG), by means of the Macquarie Green Investment Group Energy Transition Solutions (MGETS) fund, has actually introduced a worldwide battery storage space platform.

Eku Energy, a standalone organization, will certainly develop, construct, and also actively manage a portfolio of energy storage space assets branched out across markets, revenue, as well as contracting structures.

Eku Energy's initial portfolio will consolidate GIG's existing battery storage tasks in the UK, Australia, Japan and Taiwan.

Subject to receipt of appropriate regulative authorizations, Eku will certainly hold a pipeline of developed, gotten, or recognized projects totalling over 3GWh, including a 150MW/150MWh project in Australia at the site of the decommissioned Hazelwood coal-fired power station in Victoria.

At launch, Eku will likewise hold one project unfinished in the UK, a 40MW/40MWh facility in Essex.

Chris Morrison, Interim Chief Executive Officer of Eku Energy, said: "As the globe races towards web zero, the difficulties around the energy transition are moving. We've proven we can generate renewable resource at low cost, currently we need to deliver the wise, flexible energy system that will certainly support the electrification of the global economic situation.

" Battery storage space is essential to increasing the role for renewables in our energy mix by allowing the distribution of dispatchable clean energy.

" We're thrilled to be at the leading side of this journey, providing the investment and also projects at scale that will be key to net zero."

Mark Dooley, Global Head of GIG, said: "The energy transition demands an overhaul of our entire energy system.

" We have actually been working to accelerate the release of energy storage space solutions for many years currently and are thrilled by the opportunity to take this work to the following level with the launch of Eku Energy.

" There is a significant volume of investment required in these technologies in the years ahead.

" We are well placed to support this demand-- using our sectoral knowledge and also international existence, while leveraging learnings from all over the world, to provide our financiers with exposure to this specifying investment theme."

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