SK E&S to take over US energy storage developer

Batteries, CC0 licensed from Pixabay

September 10 (Renewables Now) - US energy storage company Key Capture Energy LLC on Wednesday said Seoul-based energy company SK E&S Co Ltd, an affiliate of South Korean conglomerate SK Group, will become its majority owner.

Based in Albany, New York, Key Capture Energy has standalone energy storage projects with a capacity of 254 MW in construction and operation, while its development pipeline amounts to 3,000 MW of storage projects across the country.

This is the latest deal for SK E&S in the energy market in the US after investments in energy storage, solar power and hydrogen technology in the past years.

For Key Capture Energy, the investment will help to significantly step up its expansion plans.

The deal, for which no financial details were provided, is due to close in the final quarter of the year.

Onpeak Capital advised Key Capture Energy on the transaction.

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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