Published: 30 May 2023, 12:10
Cero, Enso Energy achieve financial close on 49.5MW/99MWh battery storage system. Image: Cero Generation.
Developer Cero Generation and its UK development partner Enso Energy have achieved financial close of a 49.5MW/99MWh battery storage system.
The battery storage system, which is set to be developed in South Gloucestershire and be co-located with the 49.9MWp Larks Green solar PV project that came online in May, is planned to be operational in late 2024.
The battery storage asset will be a key component of the Larks Green solar farm by capturing green energy produced onsite to then be utilised on the grid. This will be achieved via a connection to the transmission network which grants the asset a greater output of clean energy.
According to the companies, the battery has been financed by Rabobank, who also financed the Larks Green solar project. The project has enabled the establishment of long-term partnerships with both Canadian Solar as the lead on the engineering, procurement and construction (EPC) for the battery, and EDF as the battery performance optimiser.
With this project now reaching financial close, Cero’s partnership with Enso now sees the company have over 30 stand-alone or co-located battery projects, amounting to over 2GW within its existing 5GW UK development pipeline. Another 5GW of early-stage battery or solar opportunities are in early-stage development.
“We’re delighted to announce our first financial close for one of our battery energy storage projects. Co-location enables solar power to go further, maximising the benefits renewables bring to the table and helping to accelerate the UK’s net zero transition,” said Marta Martinez Queimadelos, CEO of Cero Generation.
“We’re particularly excited that this battery is co-located with our Larks Green solar farm, which was the first solar farm in the UK to connect directly to the transmission network, marking not only an industry first but also a national milestone.
“It’s been a pleasure to work alongside Enso, Canadian Solar, EDF and Rabobank, and I’m grateful to everyone involved in reaching this stage. Collaboration is crucial to the changes and progress we need to see across sectors to build a sustainable future.”
The JV between Enso and Cero was originally between Enso and Macquarie’s Green Investment Group (GIG), before GIG launched Cero and consolidated its existing and future European solar activities into the new developer, including the UK pipeline.