The portfolio includes energy storage projects that are currently under late-stage development, with a storage duration of up to four hours
The portfolio includes energy storage projects under late-stage development. (Credit: Sabine van Erp from Pixabay)
Energy storage developer Alcemi and Copenhagen Infrastructure Partners (CIP) have teamed up to develop, build and operate a 4GW portfolio of energy storage assets in the UK.
The portfolio includes late-stage development projects of 300MW and 500MW energy storage capacity each, with a storage duration of up to four hours.
Construction at the first project is expected to start in 2023, with more projects planned to follow regularly, and energised throughout the second half of this decade.
CIP will primarily lead the procurement activities, prior to construction of the first project.
CIP senior partner Christian Skakkebæk said: “We are pleased to partner with Alcemi on such an exciting portfolio of large-scale battery energy storage projects.
“We expect these projects to enable a cost-efficient transition towards the low carbon, highly resilient power generation sector in the UK. We look forward to supporting Alcemi in the development of these projects and adding value through our own activities.”
CIP said that the projects are being developed at strategic locations to support the transmission system by regulating the impact of network constraints.
The projects would help reduce the overall cost of energy for consumers along with reducing the carbon intensity of the UK power sector.
Also, they enable better utilisation of the available renewable energy resources, eliminating the need for fossil fuel power generation during periods of peak demand.
Alcemi has commenced the projects and is expected to develop them with the support from CIP and its founding investor Susgen.
Susgen is engaged in funding and partnering with companies that invest in, develop, and manage portfolios of sustainable-energy assets.
Alcemi CEO Mark Williamson said: “We are thrilled to work with such a significant and strategic partner as CIP. This is an important step to enable the build-out of our portfolio of energy storage projects, making a significant contribution towards achieving net zero by 2050.”