EDF’s 49MW West Burton B battery storage asset in England has been sold alongside its combined cycle gas turbine (CCGT) power station, to institutional investor EIG.
The sale was originally announced in April, and closed 31 August. With it, energy sector and energy infrastructure investor EIG is creating a new electricity supplier, dubbed West Burton Energy.
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The West Burton battery asset sits on the same site as the 1332MW CCGT, which was EDF’s only gas-fired power station in the UK.
The battery storage asset also sits on the West Burton site, and will help West Burton Energy embark “on a path forward to deliver solutions capable of supporting a net-zero future,” according to Walid Mouawad, managing director at EIG.
“With the strong growth of renewable generation, we believe that battery storage technology will continue to support the stability of the UK’s national grid network. EIG is delighted to partner with this incredible team and to be a part of West Burton Energy’s exciting next chapter.”
EIG was advised by financial services group Cantor Fitzgerald in connection with the transaction, and law firm White & Case as legal advisor.
EDF is planning to expand its role in the battery storage sector, in particular with colocated sites. Last year it announced a partnership with Octo Energy to identify and deliver 200MW of hybrid solar and storage projects.
This article first appeared on Solar Power Portal.
Energy-Storage.news and EDF are presenting a free webinar: ‘How the UK grid will handle the growth of renewables and battery storage on the road to net zero,’ on Thursday 16 September at 3pm UK time. The webinar will explore the role of battery storage and renewable energy in the UK’s drive to net zero, the impact they will have on infrastructure and how to maximise asset revenues to meet rapidly-changing electricity market opportunities. See here to sign up.