Cambridge Power has entered into a framework agreement with Brookfield Renewable to develop a portfolio of battery energy storage system (BESS) sites across the UK totalling 985MW.
The agreement covers more than 800MW of fully consented BESS assets and 185MW of co-located solar for investment over the next five years.
Brookfield said it will provide significant capital to construct the portfolio of assets.
Cambridge Power will manage the construction and operation of the assets with projects commencing construction this year, with energisation in 2023.
Cambridge Power was founded by Pigeon Investment Management in 2018 and has developed grid-scale energy storage assets throughout the UK.
Brookfield’s renewables portfolio consists of hydro, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals over 21GW of installed capacity and approximately 62GW development pipeline.
Cambridge Power chairman Richard Stanton said: “This partnership represents a terrific opportunity for Cambridge Power to develop and operate one of the UK’s leading BESS and solar PV portfolios.”
Brookfield Renewable vice president Ignacio Gómez-Acebo López added: “As owners and operators of one of the largest clean energy businesses in the world we are excited to collaborate with Cambridge Power and contribute to the UK’s transition to Net Zero.
“Our Framework Agreement offers the opportunity to invest in a significant pipeline of BESS and co-located solar opportunities with a leading developer.”