Elements Green has acquired the Bolney Green Energy Hub site in West Sussex from Envirotech Energy Solutions after signing a share purchase agreement.
The project near Wineham is a 148.8MW battery energy storage system with a four-hour duration and received planning approval in September 2024.
Elements Green said the scheme is scheduled to be fully operational in the fourth quarter of 2027.
The company was advised by Bird & Bird on legal matters and Everoze on technical due diligence, while Envirotech Energy Solutions was advised by Fladgate and Savills Earth Capital.
Elements Green stated that the acquisition expands its UK energy storage portfolio and will allow it to use its development expertise to deliver the project through construction and operation.
The deal follows the recent financial close of the 360MW Staythorpe battery project in Nottinghamshire.
Rasmus Friis, chief executive of Elements Green, said: “We are thrilled to bring the Bolney Green Energy Hub into the Elements Green portfolio. This 4-hour duration project is exactly the type of high-integrity infrastructure needed to support a flexible and reliable renewable energy future.”
He added: “With the SPA now signed, our team is focused on delivering this 148.8 MW asset as part of our wider 13,000 MW global pipeline.”
Envirotech Energy Solutions stated that concluding the transaction demonstrates confidence in the sector and in the strategic value of the Bolney Green Energy Hub project.