World’s first energy storage fund seeks to raise £100m
The world’s first energy storage fund has announced plans to list on the London market.
With the global power grid extremely constrained with high peak demand gaps and unpredictable load and generation cycles, the firm says energy storage facilities, using battery technology, can help system operators maintain stable grid frequency and manage local peak demands.
Chairman Patrick Cox said: “Given the increasing penetration of renewable power in international energy consumption and the ongoing move away from fossil fuel generation, we believe that investment in energy storage projects will deliver strong returns.
“Our first-mover advantage in the UK energy storage sector will help us to deliver through an asset base that provides high-yielding income returns.”