Pulse Clean Energy, a battery storage developer, acquired 90 MW of battery storage projects in Stafford and Aberdeen, UK.
The terms of the acquisition were not disclosed.
The projects are scheduled to be commissioned by 2024. The latest acquisition builds on the company’s recent purchase of 72 MW in Manchester and a portfolio of nine existing generation sites across the UK – which are being decommissioned and repurposed as battery storage assets.
The first four projects are due to be commissioned in 2023, with additional projects entering construction throughout the year.
“We are delighted to have completed this acquisition. The new projects represent another milestone in delivering on our ambition to build 1GW+ of energy storage and stability assets across multiple markets,” said Pauline Barker, Investment Director at Pulse Clean Energy. “We are continuing to work with development partners to grow our pipeline and create a market-leading platform.”
According to Mercom’s Annual And Q4 2022 Funding and M&A Report for Storage, Grid & Efficiency. A record 14.6 GW of energy storage and solar + storage projects were acquired in 2022, a 400% increase YoY compared to 3 GW in 2021. Gore Street Energy Storage Fund, a London-based publicly traded fund managed by Gore Street Capital, recently acquired a 200 MW Big Rock 1 energy storage project in Imperial County, California, from clean energy project developer Avantus, for an undisclosed amount. The project is expected to begin construction in the second half of 2023, with completion expected by late 2024. Once operational, the 400 MWh, a two-hour energy storage system, is expected to be one of the largest in the country and will provide reliable power, with plans to provide resource adequacy and ancillary services to the CAISO market.