Clearstone Energy, a solar and battery energy storage projects developer, announced the sale of two Battery Energy Storage System (BESS) projects in Southern England to Foresight Energy Infrastructure Partners.
The Sundon project is located close to Luton, 25 miles north of London. The site is adjacent to the National Grid 400 kV substation at Sundon on the high voltage transmission line between offshore wind generation in North England and the distribution circuit supplying electricity to London.
The Warley project is located at Upminster on the outskirts of East London. The site is adjacent to the National Grid 275 kV substation at Warley and will connect directly to the London electricity distribution circuit.
Both projects will be built on land owned by National Grid and located near substations on its national high-voltage transmission network. The National Grid Energy Park program sees the company working with renewable developers to quickly add battery storage to the transmission network.
Fuad Yusibov, Senior Investment Manager at Foresight Group, commented: “Battery storage plays a crucial role in supporting the energy transition, a key theme for the next couple of decades. We are pleased to have acquired these projects, which will provide further resilience and stability to the grid amid growing energy security concerns.”
Both sites have grid connection dates in 2024. They will store enough electricity to power 215 000 homes for up to two hours, helping the UK energy system to meet peak demand and maximize generation from renewable energy assets. The acquisitions add to Foresight Group’s growing portfolio of storage assets, further strengthening its position in the UK market.
According to Mercom’s Q1 2023 Energy Storage and Smart Grid Report, there were 12 Energy Storage Project M&A transactions in Q1 2023. Recently, Greenwood Sustainable Infrastructure (GSI), the North American renewable energy subsidiary of Libra Group, has announced the strategic acquisition of solar and battery development portfolios of Saturn Power, a developer and operator of renewable energy projects. The financial terms of the deal were not disclosed.
