FRV battery storage system. Image by: Abdul Latif Jameel Energy.
Fotowatio Renewable Ventures (FRV) said that it has acquired two 50-MW battery energy storage projects in the Midlands, UK.
UK solar and battery storage developer RE Projects Development Limited (REPD) originated and worked on the schemes before selling them to the Madrid-based renewables firm for an undisclosed sum.
Tyler Hill Renewables sourced the opportunity for FRV, and is assisting in the development process, FRV said.
Each of the sites will feature a lithium-ion battery energy storage systems (BESS) spanning 1.01 hectares (2.5 acres). FRV expects the projects to reach ready-to-build status in the third quarter of 2023.
The acquisition adds to five BESS projects that FRV has in operation, under construction and in development, the renewables firm said. It also comes soon after FRV partnered with Tyler Hill Partners to create a BESS-focused platform FRV TH Powertek Limited in the UK. The new business will aim to deliver up to 1 GW/2 GWh of battery projects over a period of five years, the companies said at the time.
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