FRV to acquire 2 new battery energy storage projects in the UK
• FRV has announced the acquisition of two battery energy storage projects (BESS) comprising the battery storage plants, both located in the Midlands, United Kingdom.
• Each plant will generate up to 50MW of energy adding up to 100MW
• The projects are scheduled to enter the ready-to-build phase during the third quarter of 2023.
London, 26th October 2022
Fotowatio Renewable Ventures, a leading developer of sustainable energy solutions and part of Abdul Latif Jameel Energy, has announced the acquisition of two battery energy storage projects located in the Midlands, United Kingdom.
The portfolio, acquired from RE Projects Development Limited (REPD), a leading developer of utility scale solar and battery projects in the UK, who is the originator and the developer of the projects, each project covers a total of 1.01 hectares, and is scheduled to enter the ready-to-build phase during the third quarter of 2023.
Tyler Hill Renewables, who has sourced this opportunity for FRV, is also assisting in the development process.
The projects will consist of two lithium-ion battery storage systems totalling a combined capacity of up to 100MW, which will allow importing and exporting energy connected to the distribution network. Both projects are following planning programs to meet target ready-to-build dates.
These two projects reflect FRV´s conviction in Battery Storage, adding to 5 BESS projects in operation, under construction and in development. All these 5 projects sum 340 MW that added to the 1 GW recently announced after creating FRV TH Powertek Limited, a joint venture between FRV and Tyler Hill Partners, will create UK´s biggest BESS Portfolio.