JLEN has acquired Gigabox South Road and with it the development rights to construct the 50MW West Gourdie energy storage project in Dundee, Scotland.
The acquisition will see JLEN invest up to £21.2m over the next 12-15 months.
The West Gourdie lithium-ion battery project is fully consented and construction ready.
It is expected to reach energisation and start commercial operations in March 2022.
JLEN said the acquisition is its third investment into battery storage systems, adding to the two co-located batteries that the company owns as part of its run-of-river hydro portfolio.
JLEN chairman Richard Morse said: “We are pleased to announce the further expansion of our interests in the energy storage market with our first grid-scale battery project.
“We believe that plants such as this one, will play an important role in the decarbonisation agenda by providing balancing support to the local network and allowing for greater levels of renewable generation on the network.
“This investment should offer additional returns over time as it is structured to take advantage of increased market volatility as intermittent renewable generation facilities play a greater part in supplying green electricity to the nation.”