UK clean energy investment company Arlington Energy has secured an initial £200 million funding line to build “a significant portfolio” of battery storage and gas peaking units in the UK.”
Arlington said it has access to more than 1 gigawatt of potential assets, at sites ranging from 5-50 megawatts— which it plans to develop and construct over the next three years.
The company said it intends to retain ownership of the entire portfolio for the duration of the units’ lifetimes.
Arlington said its investment marks a step in the right direction for the UK, where battery capital expenditure has risen in the last 12 months buoyed by rising worldwide demand. By increasing the amount of installed energy storage in the country, Arlington hopes to capitalise on peaks in the UK’s increasingly volatile distributed energy market, but should also reduce the scale of those very peaks in the process.
Arlington did not specify what battery technology would be deployed, but said it had partnered with international certification body, DNV GL, which will provide “technical assistance on procuring and deploying the most suitable assets for the portfolio”.