- SUSI Partners acquires three front-of-the-meter battery storage assets in the UK with a cumulative capacity of 40MW from Eelpower
- The two companies have furthermore entered a broader partnership for the development of battery storage assets, which has already led to the acquisition of an additional ready-to-build 50MW battery storage project in Scotland
- The assets are backed by innovative offtake contracts and mark SUSI’s entry into the fast-growing energy storage market
Zug/Zurich, 25 January 2021 – SUSI Partners, through its Energy Storage Fund, acquires three lithium-ion battery storage assets from Eelpower, an owner-operator of sustainable power infrastructure in the UK. The transaction includes two operational assets with a combined capacity of 30MW and one ready-to-build 10MW asset. Innovative offtake contracts with leading UK utilities (including Centrica in December 2020) underpin the visibility of revenues and enhance the assets’ risk-return profile.
As part of a broader partnership with Eelpower, SUSI Partners, through its Energy Storage Fund, has also acquired a 50MW project in Scotland from Gigabox Developments, with construction scheduled to begin in Q1 2021. The partnership agreement aims to further contribute to meeting the demand for energy storage capacity in the UK, with substantial potential for additional projects in the near future.
The UK energy market is experiencing a fast-paced transition towards intermittent renewable energy sources, resulting in complementary infrastructure needs and increased power-price volatility. Energy storage and flexible dispatch capabilities have become essential in enabling the integration of renewables into the energy mix. With these latest acquisitions, SUSI Partners enters one of the fastest-growing energy storage markets in Europe and – thanks to the established partnership with Eelpower – has the means to create a significant portfolio of such assets.