The companies will partner to develop an initial 187MWh of development projects
Macquarie’s Green Investment Group (GIG) has acquired a portfolio of development-stage utility-scale, distribution-connected battery storage projects in the UK from Capbal.
GIG and Capbal will partner to develop an initial 187MWh of development projects, and expand the portfolio through the acquisition and development of additional projects.
The initial portfolio comprises seven projects strategically located in highly congested areas of the UK network, including Scotland and South East England.
The projects are expected to provide several grid services and participate in the Balancing Mechanism to help National Grid, balance demand and supply in real time.
Construction on the first battery storage projects is expected to commenced during 2021.
GIG UK and Europe head Edward Northam said: “Net-zero demands an overhaul of our entire energy systems – for us to fundamentally rethink not just how we generate energy, but how we get it where we need it, when we need it.
“Our success in creating a flexible, low-carbon energy system is inextricably linked to our success in delivering energy storage at scale.
“GIG’s partnership with Capbal is an exciting first step for us in this market, and we look forward to creating even more opportunities to accelerate the deployment of this critical technology.”
Founded in 2015, Capbal is said to have originated and developed over 200MW of DNO-connected, front of meter battery storage projects across the UK.
In February, GIG established a new specialist solar energy company, dubbed Cero Generation, with an under development portfolio of 8GW capacity.
The company has been formed to deliver utility-scale projects, onsite generation and integrated storage.
Cero was expected to hold one of the largest solar development portfolios in the region, comprising more than 150 projects in the UK, Italy, Spain, Poland, France and the Netherlands.