TRIG acquires 100MW UK battery project
- RES has actually sold the late-stage Spennymoor project based in County Durham
The Renewables Infrastructure Group (TRIG) has actually acquired a 100% equity passion in 100MW UK battery project Spennymoor from RES.
The project is positioned in County Durham in the North East of England, close to a high voltage substation connection.
It is currently in the late-stage growth phase and also lies to assist to relieve grid constraints and supply balancing services for the substantial commercial cluster in the Humber area, among 6 significant commercial collections in the UK.
RES has actually safeguarded planning consent as well as land lease choices for the project.
Once operational, Spennymoor is expected to represent 2% of TRIG's portfolio by value.
The first growth investment is roughly 10% of the total awaited investment.
Richard Crawford, head of energy income funds at InfraRed Capital Partners, claimed: "TRIG's financial investment in Project Spennymoor deepens our position in the flexible capacity sector, which is mosting likely to come to be progressively essential as renewables penetration boosts.
" Investments in battery storage space projects such as these not just complement the renewable generation assets in the portfolio, yet additionally leverage the solid proficiency of InfraRed as well as RES."
RES UK and Ireland Managing Director Lucy Whitford added: "Energy storage has an essential duty to play in the infrastructure of the UK by increasing the volume of renewables on our grid.
" This enables customers to gain from the most affordable expense kind of energy.
" Spennymoor will certainly figure in this shift and also we're pleased to companion once again with TRIG on this project."
