Renewable energy fund KGAL ESPF 5 has invested in a Battery Energy Storage System (BESS) developed by FENECON in Grevesmühlen, Mecklenburg-Western Pomerania.
The 17.3MW battery has a storage capacity of 48.8MWh.
Hauke Sievers, the transaction manager responsible at KGAL, said: “Battery storage plays a central role in the successful continuation of the energy transition, as it better aligns renewable generation with electricity demand over time.
“We have specifically invested in a BESS project that will come online in the short term, as this allows for significantly more reliable revenue planning than projects with longer implementation periods.”
With this BESS investment, KGAL is further diversifying the ESPF 5 portfolio. The article 9 fund now comprises 20 assets and is broadly diversified across regions, generation technologies, development phases and offtake agreements.