NextEnergy Solar Fund Acquires 250 MW Battery Storage Portfolio in UK

• NextEnergy Solar Fund acquired the portfolio for ₤ 32.5 million and it hinges on east of England.
• The storage as well as grid project is called 'Project Lion' which is a 2-hour period system at 500 MWh. The project is anticipated to be energised in 2025.

Guernsey-based leading investment firm NextEnergy Solar Fund Ltd has actually announced that the business has bought a 250 megawatt (MW) diversified portfolio of battery storage space projects and grid connections. The portfolio lies in east of England in UK. NextEnergy Solar Fund is an asset supervisor in the solar energy sector.

As per the announcement, NextEnergy Solar Fund acquired the portfolio for ₤ 32.5 million. NextEnergy Solar Fund had developed a joint endeavor with Eelpower in September. The new purchase enhances the portfolio of the companies to 300 MW.

NextEnergy Solar Fund described the purchase of the rights as a 'key milestone' which steps up the firm's participation in the UK battery storage space market.

' Project Lion'

The storage space as well as grid project is called 'Project Lion', which is a two-hour period system at 500 MWh. The project is anticipated to be energised in 2025. It will have an asset life of half a century.

After construction, the storage space as well as grid project offers vital grid harmonizing solutions. In this case, the project will certainly harness excess wind turbines generated electrical power at low import prices as well as export the same at high prices throughout low power generation. The project already has approvals for planning as well as rights for the grid connection.

NextEnergy stated that message energisation, the RE project will quicken the UK's energy freedom besides inflating the renewable resource growth in the island country.

Michael Bonte-Friedheim, President, NextEnergy, said, "The project will certainly give crucial grid harmonizing solutions for a busy location in the UK, aiding take care of the ups and downs of renewable resource generation as well as nationwide need for electrical energy. For NESF, it is a site that includes in its burgeoning direct exposure to UK battery storage space, a sector where we, as the financial investment consultant, see huge development capacity with harmonies to NESF's present solar portfolio. We look forward to creating this project by 2025 and to operating it for decades right into the future."