ILI Group has sold the 50MW Auchteraw battery storage project near Fort Augustus in Scotland to Field for an undisclosed price.
ILI Group are behind plans for 3GW of energy storage projects in the UK, which will bring 2GW of pumped storage hydro and 1GW of battery storage to the market.
The new transaction will increase ILI’s funded battery projects to 250MW, with a further 750MW being prepared for market over 2021-2022.
ILI Group chief executive Mark Wilson said: “We are delighted to announce the sale of our Auchteraw battery storage project to Field, we would like to thank Amit Gudka and his team for a smooth acquisition process and look forward to doing further business together.
“It is fitting that this announcement comes at the start of COP26 as energy storage projects like this are crucial in the energy transition to net-zero.
“Energy storage is the sometimes forgotten component to reliance on renewable energy, without it the electricity network would become unstable and would continue to be dependent on fossil fuels.
“This is our fifth battery storage deal to conclude in the past 12 months, taking the total of funded projects to 250MW.
“We have another 100MW that will be ready for tender this year.”
Field founder Amit Gudka said: “I’m really excited to be adding Field Auchteraw to our growing pipeline of battery storage sites, which helps us scale up the energy infrastructure required for the UK to have a zero-carbon grid by 2035.
“We’re determined to keep moving fast, working with companies like ILI Group to finance, build and operate the renewable infrastructure we need to reach net zero.
“Tackling the climate crisis requires the belief that large systemic changes can be made, and I’m hopeful that our ongoing progress will help prove to the world that there’s a better way to invest – now, during COP26, and beyond.”