UK battery storage asset owner and operator Varco Energy has acquired a battery energy storage system (BESS) project in Cornwell, south-west England.
Varco has acquired the 48MW Sambar BESS from Carlton Power.
Carlton Power secured Sambar’s planning consent in October 2022 and Varco will now begin work to develop the battery asset with the intention to bring the asset online by second quarter 2025.
Once complete, the battery storage system at Sambar Power will play a role in providing essential flexibility to future proof the UK’s electricity system.
Varco is funded by Adaptogen Capital.
Varco Energy director James Mills said: “As the UK moves forwards towards a net zero power system, we are delighted to add this asset to our battery storage project portfolio.
“The UK needs to invest up to £11bn in storage assets by 2035 to deliver on its net zero ambitions and Varco Energy is at the forefront of this transition.
“We will now focus on the operational integration of the project into our broader portfolio, with a targeted energisation in second quarter 2025.”
Carlton Power founder and chief executive Keith Clarke said: “We are very pleased to have concluded the sale of the Sambar Power project to Varco Energy.
“Battery energy storage schemes of this scale are essential to the security and resilience of the UK’s energy system and will support the energy transition and the further growth of renewable power generation.”