TagEnergy inks 500MW storage space bargain

• Providing the projects in Balance Power's pipe will certainly require over ₤ 300m.

TagEnergy as well as Balance Power have signed a structure arrangement to build, have, and also run 500MW of power storage projects in the UK.

Providing the 500MW of projects in Balance Power's pipe will certainly require financial investment of over ₤ 300m over the following 4 years.

The partnership will certainly enhance TagEnergy's existing portfolio of over 300MW of ready-to-build or unfinished battery projects by an additional 500MW at various phases of development.

Balance Power has a further 300MW got and also part supplied, and also an additional 1GW of projects in its growth pipeline.

The arrangement will certainly supply Balance Power's very first operating power storage projects.

In 2020 the business offered its 34MW of running gas peaking projects to Sterling as well as Wilson.

Phil Thompson, CEO of Balance Power, stated: "We are delighted to partner with TagEnergy on these projects.

" We have a shared vision for the market and also the team has a successful track record in supplying as well as operating projects which matches our very own experience and skill in project development.".

Franck Woitiez, Chief Executive Officer of TagEnergy, included: "This arrangement is boosting significantly TagEnergy's pipe as well as reinforces our objective to attach even more sustainable, competitive as well as clean power to the national grid and also increase the power shift.

" We are delighted to companion with Balance Power which has a strong track record of growth in the UK.".