The transferred stake will be held by a newly-formed entity, AssetCo, while BW ESS will retain the remaining 51% of the portfolio, once the transaction completes customary approvals. BW ESS’ total pipeline now stands at 500MWh of operational BESS, alongside a further 3.3GWh under construction.
“This investment reflects our conviction in the UK energy storage market and builds on the knowledge we have developed through our existing investments in co-located BESS,” said Greg Falzon, partner and co-head of investments at AIP. “Together we will deliver long-term value while enabling the deployment of critical flexibility in the UK power system.”
See the original full version of this article on Solar Power Portal.