Foresight Solar Fund, JLEN acquire 50-MW UK battery project
Author: Portland General Electric. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.
Foresight Solar Fund Ltd (LON:FSFL) and JLEN Environmental Assets Group Ltd (LON:JLEN) have together acquired a 50-MW construction-ready energy storage project in the UK.
Each has taken a 50% stake in Sandridge Battery Storage Ltd, which holds the development rights to build the project in Melksham, Wiltshire in England, the companies said in separate announcements on Tuesday.
The lithium-ion battery will be installed next to FSFL's Sandridge solar park and is expected to come online in October 2022.
FSFL and JLEN will each invest up to GBP 12.7 million (USD 17.6m/EUR 14.7m) in the project. For FSFL this is the first investment in energy storage.
The Sandridge battery will be connected to the distribution network of Southern Electric Power Distribution plc and has a 49.9-MW import and export connection.
It will provide grid stability in different ways, including frequency management, supply and demand management via Balancing Mechanism, volatility reduction and load-shifting through wholesale trading, and Capacity Market participation.