NextEnergy Solar Fund develops 250MW UK storage JV

Sep 17, 2021 01:36 PM ET
  • Link up with Eelpower has currently obtained a 50MW project in Fife, Scotland
NextEnergy Solar Fund develops 250MW UK storage JV
Image: EelPower

NextEnergy Solar Fund has participated in a ₤ 100m joint venture with Eelpower to develop approximately 250MW of energy storage space in the UK.

The JV has currently authorized its first acquisition of a 50MW standalone battery storage space project.

The project is a ready-to-build situated in Fife, Scotland, which will give added security to the grid via its export capability.

It is anticipated to be energised as well as grid-connected in 2022.

The project will certainly provide NextEnergy Solar Fund with several profits opportunities once it ends up being operational.

They include: arbitrage energy trading providing harmonizing ability for the nationwide and also regional grid: ability market possibilities; and secondary services.

NextEnergy Solar Fund has 70% of the JV with EelPower the staying 30%.

NextEnergy Solar Fund chairman Kevin Lyon said: "The board and I are delighted to introduce NESF's significant relocation right into energy storage, developing a vital part of NESF's future growth plans.

" The joint endeavor lays the structures and gives momentum for NESF's pipe of energy storage space properties whilst also guaranteeing partnership with a specialist companion, Eelpower, in operating these possessions.

" NESF is currently demonstrably progressing its amazing growth method both in UK energy storage space as well as global development of its portfolio of solar projects."

Eelpower president Mark Simon stated: "Eelpower was founded to advertise the shift to renewable resource sustainable, via the development of a platform of grid-scale electrical power storage space possessions.

" Considering that 2015, the Eelpower group has actually defined as well as created this market as well as is delighted to partner with NESF to lead the next stage of the UK's energy transition."

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