GIG reaches economic close on 40MW UK battery energy storage site

• Macquarie's Green Investment Group has gotten to economic close on its initial UK battery energy storage system (BESS).

The 40MW/ 40MWh BESS lies in Maldon, Essex, and also forms part of a 187MWh portfolio of 7 projects acquired by GIG in June.

GIG has performed late-stage advancement tasks and also has actually run a large purchase process to deliver a competitive legal framework for the Maldon project. EDF is to give the route to market under a long-term contract, providing GIG assets with accessibility to a range of revenue streams consisting of supplementary services such as Dynamic Containment, the Balancing Mechanism and also wholesale optimisation.

Trina Storage and G2 Energy will certainly provide the EPC and also O&M and Timber will give construction and also asset monitoring.

"Getting to economic close on this project is an interesting primary step for GIG in this market and also we eagerly anticipate more developing the portfolio and also creating even more chances to accelerate the shipment of this crucial modern technology," Edward Northam, head of GIG UK and also Europe, claimed.

In 2020, GIG and Enso Energy signed a joint venture with a purpose of developing 1GW of subsidy-free solar and also storage capacity across England as well as Wales. The very first two of these sites, the 49.9 MW Larks Green Solar Farm and also 40MW Walpole Bank Solar Farm, were authorized in January 2021.