TagEnergy makes ₤ 65m acquisition of RES' 99.9 MW Lakeside battery
- TagEnergy has acquired a 100% stake in the 99.9 MW Lakeside battery energy storage system (BESS), marking its fifth financial investment in the UK this year.
The business purchased the BESS from RES for near to ₤ 65 million, with TagEnergy likewise obtaining the 50MW Roaring Hill Energy Storage Project from RES in October.
Located in Drax, North Yorkshire, the Lakeside BESS is to enter building in Q4 2022, with energisation scheduled for October 2023. Its area on the transmission network is to make it possible for an efficient connection to the national grid with lowered grid costs, TagEnergy said.
Pivot Power, Wärtsilä and Habitat Energy claimed the UK's first grid-scale battery storage system directly attached to the transmission network in June, with the 50MW lithium-ion BESS belonging to a hybrid battery developed as part of the Energy Superhub Oxford project. Building of an additional Pivot Power transmission linked BESS - the 50MW/100MWh Sandwell site - has actually now begun, with a similar website in Coventry as a result of begin building in very early 2022.
The purchase of Lakeside by TagEnergy takes its safe portfolio in the UK to 270MW/540MWh, having likewise acquired a 60% stake in two 50MW battery storage projects this year, one of which lies near Luton, England as well as one near Abernethy, Scotland, in a joint endeavor with Harmony Energy.
Alongside this, building and construction by TagEnergy and Tesla of the Hawkers Hill Energy Park battery storage facility in Dorset started in September.
"The Lakeside purchase declares TagEnergy's unwavering dedication to leveraging our substantial storage knowledge to enhance the UK's energy storage capabilities," Franck Woitiez, chief executive officer, TagEnergy said.
