This edition of news in brief from around the world in energy storage comes from our UK colleagues at Solar Power Portal.
Fotowatio Renewable Ventures closes financing on 133MW/266MWh BESS portfolio
Renewable development company Fotowatio Renewable Ventures (FRV) has completed the financial close of a UK-based battery energy storage system (BESS) portfolio with a combined capacity of 133MW/266MWh.
The transaction closed on 23 December with FRV having secured the portfolio via £61 million (US$75.29 million). The two BESS projects are situated in Contego and Clay Tye, West Sussex and Essex respectively. The transaction was carried out by Natixis CIB.
With an output of 99MW, Clay Tye has a capacity of 198MWh, and utilises 52 Tesla Megapack lithium-ion batteries.
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The Contego project uses 28 Tesla Megapack batteries and has an output of 34MW and a capacity of 68MWh. In total, FRV already has a pipeline of more than 5GW of battery storage projects under development in the UK, it said.
The transaction is recognised as a major milestone for the company with the two projects identified as the “largest project finance executed on two highly merchant battery (c.90%) projects in Europe to date”, the firm said.
To read the full version of this story, visit Solar Power Portal.
SSE Energy Solutions acquires three solar PV plants with battery storage options
SSE Energy Solutions has confirmed the acquisition of three solar sites in Nottinghamshire, England, from PV developer Gridmove.
The three solar projects will be located within Nottinghamshire’s largest district – Newark and Sherwood – at Foxholes, Knapthorpe and Muskham. These are currently being processed via a formal planning application.
SSE will explore the creation of battery energy storage in a nearby area Staythorpe. In doing so, the excess energy could be captured within the battery asset and thus provide a flexible solution to the grid.
Additionally, the use of co-location via the battery and solar projects, could provide “significant cost savings” by sharing one grid connection, a report by Cornwall Insight and national law firm Weightmans declared.
“We are currently seeking planning approval for the three solar sites, and we are working with stakeholders to ensure concerns are addressed. We aim to shortly submit the planning application for the Staythorpe battery storage project which is a technology that brings flexibility to the Grid, enabling us to fully harness the power of renewable generation,” said Richard Cave-Bigley, SSE Solar and Battery director.
At the time of writing, SSE declared its has secured a 700MW pipeline of renewable projects declared with a further 1GW of sites currently under assessment.
To read the full version of this story, visit Solar Power Portal.
TagEnergy closes financing on 100MWh BESS project
TagEnergy has confirmed it has reached financial close on its fourth UK battery energy storage (BESS) facility with a capacity of 49.9MW/100MWh in Fife, Scotland.
TagEnergy confirmed it had attained financial close, while retaining 100% equity in the project dubbed Roaring Hill, after receiving funding from Santander UK. The renewable developer acquired the project from RES in September 2021.
The project – which consists of 18 battery enclosures – was consented in two phases by Fife Council. It is to provide grid stabilisation and ancillary grid services, supporting the network by balancing supply and demand.
The facility will use a system of Tesla Megapack lithium-ion batteries, together with Tesla’s Autobidder AI software for real-time trading and control.
This is not the first time Santander has offered financial support to TagEnergy in a bid to enable the creation of BESS projects in the UK. Earlier this month, Santander provided financial aid to support construction of a 49MW/98MWh standalone BESS project in Abernethy, Scotland.
TagEnergy is further expected to develop a portfolio of BESS projects having established a partnership with Balance Power to build, own and operate 500MW of BESS across the UK. Running alongside this partnership, the two firms confirmed an aim to invest over £300 million in order to construct the projects over a period of four years.
To read the full version of this story, visit Solar Power Portal.
Energy-Storage.news’ publisher Solar Media will host the 8th annual Energy Storage Summit EU in London, 22-23 February 2023. This year it is moving to a larger venue, bringing together Europe’s leading investors, policymakers, developers, utilities, energy buyers and service providers all in one place. Visit the official site for more info.
