Macquarie gets UK storage portfolio

Jun 15, 2021 09:29 AM ET
  • Initially 7 projects amounting to 187MWh bought from Capbal will certainly be established
Macquarie gets UK storage portfolio
Image: Cater Jonas

Macquarie's Green Investment Group (GIG) has gotten a portfolio of development-stage utility-scale, distribution-connected battery storage space projects in the UK from Capbal for an undisclosed price.

GIG and also Capbal will certainly companion to deliver a first 187 megawatt-hour of late-stage advancement projects, as well as grow the portfolio with the acquisition and advancement of additional projects.

The initial 187 MWh portfolio consists of seven projects strategically located in very busy areas of the UK network, consisting of Scotland and also south-east England.

The projects will supply a variety of grid services, consisting of regularity action, and also will take part in the harmonizing system to help National Grid.

Building and construction is anticipated to start on the very first projects during 2021.

The acquisition was delivered by GIG's energy technology team, which is experts in funding innovation options crucial to the power transition, including grid range storage, distributed power as well as fleet electrification.

GIG head in the UK and Europe Edward Northam stated: "Net-zero requires an overhaul of our whole power systems - for us to basically reconsider not simply exactly how we produce energy, yet just how we get it where we require it, when we require it.

" Our success in producing a flexible, low-carbon power system is totally connected to our success in supplying power storage at scale.

" GIG's collaboration with Capbal is an interesting initial step for us in this market, and also we expect developing much more opportunities to speed up the implementation of this important innovation."

Capbal managing supervisor and also owner David Fyffe stated: "Battery storage space's time has come. Net zero by 2050 will certainly call for a huge clean energy development throughout the 2020s.

" Battery storage space is key allowing modern technology, including important flexibility and intelligence to a grid under enhancing tension due to the fast development in recurring renewables.

" Although it has required time for the battery storage field to mature, range as well as speed to market are now crucial and also GIG is the ideal companion to supply our preliminary portfolio of attractive, grid range projects as well as more.

" We anticipate an energised as well as efficient collaboration with GIG."

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