Foresight Group has acquired the Port of Tyne 35MW battery storage project in the UK from Renewable Energy Systems (RES) for an undisclosed price.
The acquisition made through Foresight ITS funds, is the biggest of the Enhanced Frequency Response (EFR) battery storage projects of the National Grid to have driven investment from an infrastructure investment manager in the UK.
Developed at Port of Tyne in England, the project will be built and operated by renewable energy and energy storage developer RES. Construction work of the battery storage project is set to begin soon with full commissioning scheduled for early 2018.
Foresight partner Dan Wells said: “The acquisition consolidates Foresight's position as a leader in investing both in renewable energy generation and the flexible grid infrastructure required to accommodate increasing penetration of renewables, such as energy storage.”
Through an EFR contract, the Port of Tyne project will provide frequency response balancing services. Apart from that through a CM contract, it will deliver available capacity to the National Grid.
As a result, the battery storage project is being regarded as a key part of the National Grid’s transition to a more flexible energy network that is low on carbon emissions.
RES managing director Rachel Ruffle said: “Energy storage has a crucial role to play in delivering a flexible electricity network to support the UK’s economic growth and enable more low cost, renewable energy to be used.
“As a leader in the energy storage market RES prides itself in delivering projects that meet the needs of our clients and society. RES is proud to be working with Foresight, as it expands its infrastructure investments into energy storage.”
Recently, RES secured a contract to build a 40MW energy storage project in California for an unnamed independent power producer.
Image: RES divested its Port of Tyne 35MW battery storage project to Foresight Group. Photo: courtesy of Renewable Energy Systems Ltd.