Macquarie’s Green Investment Group (GIG) has reached financial close on a 40MW battery storage project, located in Maldon, Essex.
The project is one of seven strategically located in highly congested areas of the UK network, including Scotland and South-East England, that were acquired by GIG from Capbal Limited earlier in 2021.
GIG says its contractual structure for the project includes EDF, which will provide the route to market under a long-term contract, accessing a variety of revenue streams including ancillary services such as Dynamic Containment, the Balancing Mechanism and wholesale optimisation.
Trina Storage and G2 Energy will provide the EPC and O&M and Wood will provide construction and asset management.
Greg Callman, Global Head of Energy Technology, GIG: “We strongly believe in the critical role of battery storage to unlock the global energy transition, enabling expanding renewables capacity and more resilient energy networks.”
Edward Northam, Head of GIG UK and Europe said: “Reaching financial close on this project is an exciting first step for GIG in this market and we look forward to further developing the portfolio and creating even more opportunities to accelerate the delivery of this vital technology.”