London-listed investment company TRIG has acquired 100% of an energy storage project in Scotland for GBP20 million ($26m) from renewable energy developer RES (Renewable Energy Systems).
The 20MW energy storage site in Broxburn, equipped with Samsung SDI’s lithium-ion technology, was developed and will be operated by RES.
The project, under construction by RES, is due for completion early next year and will have an operational lifetime of 15 years. RES said Broxburn aims to provide “dynamic, two-way sub-second grid balancing services” to the National Grid.
TRIG chairman Helen Mahy said: “The use of battery storage is becoming increasingly important in enabling grid networks to match fluctuations in the supply and demand of electricity and to stabilise power frequency. This becomes especially vital as the installed base of renewables generation increases.”
In May, Italian electricity utility Enel bought RES’s 25MW stand-alone battery storage project in Newcastle, UK, by acquiring shares in Tynemouth Energy Storage Limited from Element Power.
The following month, RES sold its utility scale Port of Tyne 35MW lithium-ion battery storage facility to the Foresight Group.