TRIG buys rights to 250 MW of battery storage sites in England

The Renewables Infrastructure Group (LON:TRIG), an investment firm managed by InfraRed Capital Partners, said today it has agreed to buy the right to develop 250 MW of battery storage projects in the North of England.

Financial details about the acquisition were not available.

The target portfolio consists of three sites developed by Aura Power Developments Ltd, each with land rights, planning permission and grid connection agreements in place. Two of the projects, with a combined capacity of 165 MW and a two-hour duration of storage, are planned to go online in 2024 and 2025. The third one, a two-hour duration site with 85 MW of installed capacity, will be built at a later stage in line with its 2029 grid connection date.

TRIG has contracted UK-based RES Group to progress the development of the projects and move them through the procuring of equipment and construction stages.

"For TRIG, the addition of battery storage into an already diversified generation portfolio further reduces revenue variability, and draws on the deep expertise of InfraRed and RES of investing in and delivering development-stage projects," said Richard Crawford, of InfraRed Capital Partners.

TRIG estimates that the investment in the three projects will represent about 4% of its portfolio by value, once the first two facilities are switched on.

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