The Renewables Infrastructure Group (TRIG) has acquired a 100% equity interest in 100MW UK battery project Spennymoor from RES.
The project is situated in County Durham in the North East of England, in close proximity to a high voltage substation connection.
It is currently in the late-stage development phase and is located to help to alleviate grid constraints and provide balancing services for the significant industrial cluster in the Humber region, one of six major industrial clusters in the UK.
RES has secured planning permission and land lease options for the project.
Once operational, Spennymoor is expected to represent 2% of TRIG’s portfolio by value.
The initial development investment is approximately 10% of the total anticipated investment.
Richard Crawford, head of energy income funds at InfraRed Capital Partners, said: “TRIG’s investment in Project Spennymoor deepens our position in the flexible capacity sector, which is going to become increasingly important as renewables penetration increases.
“Investments in battery storage projects such as these not only complement the renewable generation assets in the portfolio, but also leverage the strong expertise of InfraRed and RES.”
RES UK and Ireland Managing Director Lucy Whitford added: “Energy storage has a critical role to play in the infrastructure of the UK by increasing the volume of renewables on our grid.
“This allows consumers to benefit from the lowest cost form of energy.
“Spennymoor will play a part in this transition and we’re pleased to partner again with TRIG on this project.”