Triple Point Energy Efficiency Infrastructure Company plans to expanded its investment in distributed energy with to battery storage and it is progressing an exclusive near-term pipeline of £108 million of grid-scale assets.

The investment company says “demand for grid balancing and storage solutions in the UK is likely to stay high for a significant period of time”. In addition to the assets being developed it is in discussions on a wider pipeline of £454 million across a range of sectors, it said in a trading update.

The company is arranging a revolving credit facility of up to £40 million after investing £47 million in nine ungeared hydroelectric power assets, totalling 6.6 MW, in late 2021. The company said those assets had availability up 5% and generation up 17% above budget in Q4 2021. The company is embarking on a ‘Hydro Enhancement Programme’ to improve the generation profile further by optimising water flow from the catchment area. This will include re-instatement of peatland.