Alpiq, a Switzerland-based electricity producer, announced the acquisition of the 100 MW/200 MWh battery energy storage project located in the department of Oise, north of Paris, France from Harmony Energy, a renewable energy project developer.
The project is expected to be commissioned in autumn 2026. Once operational, it will supply electricity to 1,70,000 households for two hours. The financial details of the acquisition were not disclosed.
The company is expanding its portfolio in its core markets as part of its strategy and plans further investments in battery storage. In June, the company also announced the acquisition of a 30 MW battery energy storage project in Valkeakoski in southern Finland, which is scheduled to commence operation in the summer of 2025.
Alpiq is planning further acquisitions of battery storage projects in France, Switzerland, Germany, and the Nordics.
“The investment in this battery energy storage system in France signals a clear commitment from Alpiq. On the one hand, it underlines the strategy of expanding our flexible asset portfolio in our core markets to enable the integration of variable renewable energy and through that the energy transition,” said Lukas Gresnigt, Head of International and Member of the Executive Board of Alpiq. “On the other hand, the investment is a further commitment to expansion of our position in France, a core market for Alpiq where we have a strong position in supplying energy to commercial and industrial customers,” he added.
According to Mercom’s 9M and Q3 2024 Funding and M&A Report for Energy Storage and Smart Grid, in 9M 2024, there were 22 energy storage project M&A transactions (one disclosed) compared to 22 transactions (four disclosed) in 9M 2023.
Earlier in November, Field, an energy storage project developer, announced the acquisition of the 200 MW/800 MWh Hartmoor battery storage project near Hartlepool, England, U.K., from independent project developer Clearstone Energy.
