Arlington Energy has announced that it has secured initial funding of £200 million to build energy storage and gas peaking assets.
The company said it has access to over 1GW of assets which will be developed and constructed over the next 1-3 years, with sites ranging from 5-50MW. It intends to construct and own the entire portfolio of assets for the duration of their life.
Matt Clare, director of Arlington Energy, said “securing this level of funding has been a fantastic achievement for us, and for the UK energy sector. We are extremely pleased to be able to deploy so many assets in the UK to support the grid network.”
The company also said it is “is open to expanding its portfolio”. It has partnered with DNV GL to provide technical assistance on procuring and deploying the most suitable assets for the portfolio.