Masdar, a developer of commercial-scale renewable energy projects, announced the acquisition of UK-based battery energy storage system developer Arlington Energy for an undisclosed amount.
Based in London, Arlington Energy develops, builds, operates, and finances flexible energy solutions and has taken over 170 MW of assets through to operation in the past two years.
Europe is forecasted to need as much as 200 GW of storage capacity by 2030, according to reports. The UK alone is expected to need as much as 50 GW of storage capacity by 2050 to achieve its target of net-zero carbon emissions by 2050, according to the National Grid.
With this acquisition, Masdar expects to expand its presence in the UK and European renewable energy markets and enable the development, construction, operational management, and financing of BESS projects under one Masdar-Arlington platform.
“Partnering with Masdar allows us to accelerate our BESS rollout in the UK and will make us the leading platform for energy storage. With Arlington’s experience and expertise in the procurement, construction, and operational management of BESS, and Masdar’s global capabilities in renewable energy, combining forces is a natural progression. This partnership creates a business with huge potential, immediately capable of delivering at scale domestically and in other markets in the future, as more nations join the UAE and UK in setting net-zero targets,” said Matthew Clare, co-founder and Director of Arlington Energy.
In addition to the acquisition of Arlington, Masdar expects to increase its investments in offshore wind and other renewable projects in new and existing markets, including the United Kingdom.
According to Mercom’s 9M And Q3 2022 Funding and M&A Report for Storage, Grid & Efficiency. There were 23 (eight disclosed) Energy Storage M&A transactions in 9M 2022 compared to 15 transactions (three disclosed) in 9M 2021.
Recently, ReneSola, a fully integrated solar project developer, announced the acquisition of Emeren, a utility-scale solar power and battery projects developer. The acquisition transaction was completed on October 10 through an all-cash deal with an earn-out provision.