ENERGY STORAGE

Renewable Power Capital buys 57MW UK battery storage project

February 27, 2024

Renewable Power Capital (RPC) has completed the acquisition of a 57MW ready-to-build battery storage project in the UK.

With this deal, RPC adds its first “shovel-ready” storage project to its UK portfolio.

Construction on the site is due to start imminently, while energisation is expected in the summer of 2025 “after which the project will be connected to the UK’s transmission network”, an RPC statement said.

This deal follows RPC entering two storage development partnerships in the UK last year. These two agreements cover 4.5GW of capacity – a 500MW partnership with Greenfield and a 4GW partnership with Elmya Energy.

Kevin Devlin, CEO at RPC, said: “RPC is carving out its position as a key player in the storage market. This deal brings our UK storage pipeline to more than 4.5GW, and now with an advanced-stage project. We see significant growth potential in the sector and look forward to building on this momentum.”

Herbert Smith Freehills and Ricardo acted as legal and technical advisers, respectively, to RPC.