Scotland-based clean energy developer ILI Group has closed the sale of a 50MW grid battery to Abbey Group Cambridgeshire and YooGen1.
The battery will be built in Fife.
ILI Group has a development pipeline of 3GW of energy storage projects across Scotland, comprising 2GW of pumped storage hydro and 1GW of battery storage.
ILI Group CEO Mark Wilson said: “We are pleased to announce the sale of our 50MW Battery Project in Fife to Abbey Group Cambridgeshire Ltd and YooGen1 LLP.
“I would also like to thank our legal team at TLT, in particular Damien Bechelli and Joanna Hamilton who pushed the sale over the line at 23:10 on Friday night to meet our closing date.”
ILI’s funded battery projects total 100MW with a further 450MW that will be ready later this year he said.
He said that together ILI’s planned projects can bring over £2bn of investment and thousands of jobs to Scotland, energising local workforces and suppliers in the challenging times that lie ahead.
“These projects will help stimulate the economy coming out of the pandemic and play a significant role in meeting the UK’s net zero targets.”
Nick Sutton from Abbey Group Cambridgeshire said: “we have worked successfully with ILI Group on numerous renewable energy projects over the past five years and this acquisition further increases our fast growing pipeline of battery projects in the UK.”