Published: 10 Feb 2022, 11:28
Cambridge Power Limited has signed a Framework Agreement with Brookfield Renewable to develop a new portfolio of solar and battery storage.
The two are to develop on an exclusive basis more than 800MW of full consented battery energy storage systems (BESS) and 185MW of co-located solar for investment over the next five years.
Brookfield will provide capital to construct the portfolio, while Cambridge Power will manage the construction and operation of the assets. Projects are to commence construction this year, with energisation scheduled for 2023.
Richard Stanton, chairman of Cambridge Power said: “This partnership represents a terrific opportunity for Cambridge Power to develop and operate one of the UK’s leading BESS and solar PV portfolios.”
Brookfield Renewable currently has a portfolio of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia. It totals over 21,000MW of installed capacity, with an approximately 62,000MW development pipeline.
Earlier this week, it tripled its US development pipeline to 31GW through the US$650 million (£479 million) acquisition of clean power developer Urban Grid, taking on its pipeline which includes 13GW of utility-scale solar and 7GW of energy storage across 12 US states.