The fund, which primarily invests in UK located utility-scale energy storage projects, will arrange the construction and manage the energy storage system.
The plant brings the firm’s acquisition and pipeline portfolio to 239MW and is scheduled to become operational in 2022.
Alex O’Cinneide CEO noted: “The project is our first in Scotland, a very attractive market for energy storage and adds to a portfolio diversified in markets, assets and counterparties. We are proud to be part of the transition to a low carbon economy, and at the forefront of energy storage as an asset class.”
The fund announced exclusivity in February for the project which is part of the 14MW project pipeline.
Scottish energy storage project bought by investment fund