Macquarie’s GIG partners Capbal to develop 187MWh storage portfolio

Macquarie’s GIG partners Capbal to develop 187MWh storage portfolio

Published: 15 Jun 2021, 13:12

The batteries will be used to provide balancing services for National Grid. Image: Getty.

Macquarie’s Green Investment Group (GIG) has acquired a portfolio of 187MWh of late-stage development battery storage projects in the UK.

The utility-scale, distribution-connected projects have been acquired from battery storage development and delivery platform Capbal Limited, with the two companies partnering for the development of the sites as well as additional projects going forwards.

This initial portfolio contains seven projects that are strategically located in highly congested areas of the UK network, including Scotland and the south east of England.

When constructed they will provide grid services including frequency response, and participate in the Balancing Mechanism, helping National Grid to balance supply and demand in real-time.

Reaching net zero will require both the generation and the use of energy to be rethought, to create a flexible, low-carbon energy system that “is inextricably linked to our success in delivering energy storage at scale,” said Edward Northam, head of GIG in the UK and Europe.

“GIG’s partnership with Capbal is an exciting first step for us in this market, and we look forward to creating even more opportunities to accelerate the deployment of this critical technology.”

Construction of the first projects is expected to start during 2021. The announcement follows GIG and Enso Energy signing a joint venture in June 2020, targeting 1GW of subsidy-free solar and storage capacity across England and Wales. The first two of these sites were approved in January 2021, with the 49.9MW Larks Green Solar Farm and 40MW Walpole Bank Solar Farm taking a step forwards.

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