Renewable energy giant Masdar has acquired UK-based battery energy storage system (BESS) developer Arlington Energy in a bid to expand its presence in the UK and European renewable energy markets.
Arlington Energy is based in London and primarily develops, builds, operates and finances flexible energy solutions. The company has stated it has taken over 170MW of assets through to operation in the last two years.
In 2018, the company announced plans to build out a 1GW portfolio of energy storage and gas peaker projects across the UK after securing initial funding of £200 million from an offshore fund of institutional investment.
Having now been acquired by Masdar, a UAE-stated owned renewable energy company, it is expected that Arlington will continue its expansion into the UK market and develop a stronger portfolio of renewable energy projects. This will enable the development, construction, operational management and financing of BESS projects under one Masdar-Arlington platform.
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The acquisition comes at a time when investors are becoming increasingly interested in battery storage as projects become more profitable and cost-effective, according to industry experts.
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