Renewable Power Capital (RPC) has completed the acquisition of a 57MW ready-to-build battery storage project in the UK.
With this deal, RPC adds its first shovel-ready storage scheme to its UK portfolio.
The location of the project is undisclosed.
Construction on the site is due to start imminently and energisation is expected in summer 2025, after which the site will be connected to the UK’s transmission network.
This deal follows RPC’s two storage development partnerships in the UK, both of which were announced in the past year.
These agreements total 4.5GW of capacity, comprising 500MW with Greenfield and 4GW with Elmya Energy.
“RPC is carving out its position as a key player in the storage market,” said RPC chief executive Kevin Devlin.
“This deal brings our UK storage pipeline to more than 4.5GW, and now with an advanced-stage project. We see significant growth potential in the sector and look forward to building on this momentum.”
Herbert Smith Freehills and Ricardo acted as legal and technical advisers, respectively, to RPC.