Triodos and Grid Beyond to drive installation of £10M of behind-the-meter storage

Grid Beyond has agreed a project financing facility from Triodos Energy Transition Europe Fund to invest £10 million in a pipeline of ‘behind the meter’ battery storage projects across the UK and Ireland.
Triodos Energy Transition Europe Fund is the financial partner in the deal. The fund invests in assets and companies that generate renewable energy, improve energy efficiency or offer energy flexibility and is managed by Triodos Investment Management. It will fund battery assets on sites belonging to GridBeyond’s clients. GridBeyond will manage the procurement, installation, operation and maintenance process, along with revenue generation by bringing the assets into the market.
GridBeyond will determine the optimum battery size based on consideration the site’s demand profile, onsite generation existing or planned and the level of flexibility available through demand-side response.
Triodos Energy Transition Europe Fund and GridBeyond are already examining the potential to expand the partnership into other global markets.
Vincent van Haarlem, Fund Manager of Triodos Energy Transition Europe Fund said:
“Decentralised energy storage is a valuable addition to the toolbox of companies seeking to achieve carbon neutrality. As such we are very pleased to team up with GridBeyond and to proactively contribute to accelerating the energy transition through this collaboration.”
GridBeyond Chief Operating Officer Richard O’ Loughlin said: “Over the last 12 months many I&C businesses have been examining the risks and rewards of installing battery storage on site, however for most the upfront costs of the technology is a firm barrier.”
“Through this partnership, which provides a fully funded battery storage system to our existing demand side response clients we are giving them the opportunity not only to bolster their energy resilience, but to make cost savings that can be further invested in actions that support the net zero transition.“