First of seven utility-scale grid batteries planned by GIG across UK reaches financial close
Green Investment Group (GIG) has reached financial close on a 40MW battery storage project in Essex, marking the first in a string of utility scale, distribution-connected battery facilities the Australian-owned investor is aiming to deliver across the UK in the coming years.
GIG – which was formerly known as the Green Investment Bank before it was sold off by the UK government to Australian bank Macquarie – is plotting a 187MWh portfolio of UK battery storage facilities, of which the Maldon project announced today is the first to reach financial close.
First acquired from Capbal Ltd earlier this year, the proposed portfolio includes seven battery storage projects strategically located in “highly congested areas of the UK power network” including Scotland and South East England, according to GIG.
For the 40MW/40MWh Maldon project in Essex, French energy giant EDF has won a long-term contract to “provide the route to market” for the facility, while Trina Storage and G2 Energy have been tapped to provide engineering, operation and maintenance, GIG said.
In addition, engineering and project management firm Wood has been contracted to provide construction and asset management for the Maldon battery storage facility.
“Reaching financial close on this project is an exciting first step for GIG in this market and we look forward to further developing the portfolio and creating even more opportunities to accelerate the delivery of this vital technology,” said Edward Northam, head of GIG UK and Europe.
It follows the news last week that Sembcorp Energy UK plans to build a 360MW battery storage system on Teesside, sitting alongside a proposed gas power plant fitted with carbon capture and storage technology. Once completed, the facility is set be the largest grid-scale battery storage array in Europe, according to Sembcorp.
GIG believes the government’s aim to decarbonise the UK electricity system to net zero by 2035 opens up significant opportunities for battery storage, which it views as a “key enabler” of the net zero transition, by supporting intermittent renewables generation with grid-back up services.
Greg Callman, global head of energy technology at GIG, said: “We strongly believe in the critical role of battery storage to unlock the global energy transition, enabling expanding renewables capacity and more resilient energy networks.”
GIG has also partnered with French oil giant TotalEnergies and the Renewable Infrastructure Development Group with a view to developing offshore wind power in Scottish waters, with their joint venture Offshore Wind Power Ltd eyeing bids in the next seabed leasing round.
