The infrastructure investor Foresight Group has acquired the Port of Tyne 35MW battery storage project from RES.
The project at Port of Tyne was developed and will be constructed and operated by RES. Construction on the project will start immediately with full commissioning due in early 2018. The Port of Tyne project will deliver frequency response balancing services through an EFR contract and provide available capacity to the National Grid through a CM contract.
Dan Wells, partner at Foresight commented: “The acquisition consolidates Foresight’s position as a leader in investing both in renewable energy generation and the flexible grid infrastructure required to accommodate increasing penetration of renewables, such as energy storage. We are delighted to have worked alongside RES to reach financial close on this pioneering project which sets an exciting precedent for the integration of battery storage into the UK energy system.”
Rachel Ruffle managing director at RES said: “As a leader in the energy storage market RES prides itself in delivering projects that meet the needs of our clients and society. RES is proud to be working with Foresight, as it expands its infrastructure investments into energy storage. We look forward to building and operating a successful storage project at the Port of Tyne.”
Foresight has an operational portfolio of more than 80 solar PV projects and 28 Energy from Waste (EfW) projects with a collective generating capacity of more than 1GW.
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