Renewable Power Capital (RPC) and Greenfield have closed an agreement to develop at least 500MW of battery storage capacity in the UK.
As part of the deal, RPC has acquired two initial projects from Greenfield with an expected combined capacity of 83MW. These projects are forecast to be fully permitted by the second quarter of 2024.
â€œWith a view to owning and operating the storage assets over the long term, this partnership is critical to RPCâ€™s growing portfolio of renewables, which supports a flexible, decarbonised, and resilient grid,â€ a RPC statement said.
Advisers to RPC on this transaction were CMS and Fichtner.